E-viri
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Bundick, Brent
Economic review (Kansas City), 09/2015Journal Article
When the Federal Open Market Committee (FOMC) communicates the expected future path of monetary policy to the public, it often outlines how economic conditions affect the stance of policy. In this way, the FOMC implicitly communicates a policy rule that guides its decisions. Professional forecasters, in turn, attempt to identify this implicit monetary policy rule as they set their forecasts for the short-term interest rate.
