The Federal Reserve said it would start a review next year of how it fulfills its goals of promoting employment…
The Federal Reserve said it would start a review next year of how it fulfills its goals of promoting employment and controlling inflation and how well it communicates to the public.
“With labor market close to maximum employment and inflation close to our 2 percent target, now is a good time to find out how we formulate, implement and communicate monetary policy,” said Federal Reserve Chairman Jerome H. Powell in a press release.
Part of the effort will include a conference next June in Chicago Fed, said the central bank. Fed bankers around the country will also make events to request the public.
Following these meetings, which should happen in mid 201
9, policy makers at Fed to meet to discuss what they found. After that, Fed will report their conclusions.
Fed policy makers are expected to raise benchmark interest rates by a quarter of a point in December, what would Fed fourth rate increase in 2018.