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Brainard, Lael on 2018 May 31

As suggested by the SEP median path, I believe that the forward-guidance language in the Committee statement that was introduced a few years ago that "the federal funds rate is likely to remain, for some time, below levels that are expected to prevail in the longer run" is growing stale and may no longer serve its original purpose.

As suggested by the SEP median path, I believe that the forward-guidance language in the Committee statement that was introduced a few years ago that "the federal funds rate is likely to remain, for some time, below levels that are expected to prevail in the longer run" is growing stale and may no longer serve its original purpose. Brainard, Lael

Forecasters Club of New York

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