St Louis Fed's Poole on FOMC transparency

In a speech on 'FOMC transparency' given on 6 October, William Poole of the Federal Reserve Bank of St. Louis said that statements from the Fed were not "iron clad" and it is important the market not interpret this statement as a commitment.

"It is possible -- I would argue likely at some point -- that new information will cause the FOMC to adjust the target at a pace different from what is currently anticipated," Poole said, referring to the Fed's use of the phrase "measured pace" in its recent

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