How Far Is the FOMC from Its Goals?
June 9, 2014
St. Louis Fed President James Bullard discussed the stance of monetary policy and the economy relative to pre-crisis levels during the Tennessee Bankers Association's annual meeting. While the FOMC is much closer to its macroeconomic goals than it has been in the past five years, Bullard noted that the monetary policy stance remains far from normal. He said that the FOMC now faces a classic challenge concerning the appropriate pace of monetary policy normalization.
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