Thursday, October 29, 2015
Rarely Used Fed Language
In new language in the Federal Reserve statement released yesterday, the Fed said: “In determining whether it will be appropriate to raise the target range at its next meeting, the Committee will assess progress--both realized and expected--toward its objectives of maximum employment and 2 % inflation.”
Terry Sheehan, an economic analyst at Stone & McCarthy Research Associates, writes that Fed policy makers have used “the next meeting” language only once before in regard to the policy outlook -- in December 1999. A rate hike followed at the next meeting, she noted.
at 12:41:00 PM