CSPAN2 Key Capitol Hill Hearings December 17, 2014
Current target range for the federal funds rate remains appropriate. The Committee Also updated the federal funds rate indicating that the Committee Judges are beginning to normalize the stance of the Monetary Policy. This new language does not represent a change in the policy intentions and it is fully consistent with our previous guidance which stated that it will likely be appropriate to maintain the current target reach for the federal funds rate for a considerable time after for the purchase program. But with that program having ended in october and the economy continuing to make progress...