• Economic activity expanding at a solid pace
• Members are unanimous that this committee will deliver price stability
• The statement just gives you the facts
• Confirms that he didn’t submit dot plot projections, but encouraged others to continue to do so
• Forward guidance not well suited to current environment

After saying the line about delivering price stability, he paused for effect. That’s a strong signal and it’s certainly hawkish.

Set up task forces on:

• Productivity
• Inflation framework
• Communications
• Data sources
• Jobs and Fed framework
• Balance sheet policy
• Task forces will be supported by staff and propose changes, including on the SEP

This article was written by Adam Button at investinglive.com.



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