CSPAN Key Capitol Hill Hearings May 8, 2014
Pressure on longterm Interest Rates and support mortgage tokets and contributes favorable conditions in broader financial markets. Tool intant policy recent years has been Forward Guidance about the likely path of the funds rate. Beginning in december 2012, the committee provided threshold base guidance that turned on the bigger of the Unemployment Rate. The Unemployment Rate nearing the threshold that had been laid out earlier, we undertook a significant review of the Forward Guidance. While indicating that the new guidance did not represent a shift in the policy intentions, the committee lai...