Cleveland Fed president sees forward guidance evolving in normal times
Mester sees FOMC summary of economic projections playing ‘central role’
The Federal Open Market Committee (FOMC) summary of economic projections (SEP) could play a "central role" in helping the public understand how monetary policy will react to economic developments, according to Federal Reserve Bank of Cleveland president, Loretta Mester.
Speaking to the Money Marketeers of New York University, Mester predicted forward guidance will, in normal times, focus "less on when policy will be changed or even the particular path of future policy, and more on the rationale
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