Fed minutes reveal growing rifts over forward guidance
Debate over correct way to phrase guidance
Members of the Federal Open Market Committee (FOMC) are increasingly divided over the appropriate wording of forward guidance, the minutes of the Fed's September monetary policy meeting suggest.
The minutes, published on October 8, reveal a greater discussion over the merits of different approaches to forward guidance than at previous meetings.
Richard Fisher joined Charles Plosser – presidents of the Federal Reserve Banks of Dallas and Philadelphia respectively – in dissenting on the basis of
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