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- New York Fed president Williams: Fed is not tied to any particular natural rate of unemployment but looking at a broad set of indicators
New York Fed president Williams: Fed is not tied to any particular natural rate of unemployment but looking at a broad set of indicators
- Fed's new policy framework makes it clear that policymakers seek inflation that targets 2% over time
- Lower neutral interest rates constrain the ability of monetary policy to offset negative shocks to economy
- FOMC participants' median estimate of neutral nominal rate has fallen to 2.5% from 4.25% in January 2012
- Statement on new strategy makes unequivocally clear that we seek maximum employment and will aim to eliminate shortfalls
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