Fisher ‘encouraged’ by FOMC guidance
Dallas Fed president likens monetary policy to ‘duck hunting’
Federal Reserve Bank of Dallas president Richard Fisher was "encouraged" by the change in forward guidance agreed at the last Federal Open Markets Committee (FOMC) meeting.
In addition to wrapping up its asset purchase programmes, the FOMC indicated that "increases in the target range for the federal funds rate are likely to occur sooner than currently anticipated" if incoming data shows "faster progress" toward the Fed's dual targets.
Fisher welcomed this guidance in a speech at the Shadow Open
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