FOMC members ‘increasingly uncomfortable' with Fed's forward guidance
Members are interpreting recent economic upturn very differently, new minutes show
Some members of the Federal Reserve's Open Market Committee (FOMC) are growing "increasingly uncomfortable" with the Fed's forward guidance amid an economic upturn that is putting the bank's communications tactics to the test.
Newly published minutes from the FOMC's meeting on July 29–30, at which it held the Federal funds rate and cut asset purchases by $10 billion to $25 billion per month, reveal members' diverging interpretations of labour market conditions that have moved "noticeably closer"
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