FOMC mulls further tweaks to forward guidance

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The Federal Reserve's open market committee (FOMC) is mulling further changes to its policy guidance once a hike in the Federal funds rate draws nearer, minutes released yesterday reveal. Meanwhile, one member has called for a "serious discussion" over whether the Fed should swap its inflation target for a price level target.

According to minutes from the FOMC's meeting on April 29–30, "a number" of members stressed the importance of communicating "still more clearly about the committee's policy

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