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- Title
Has Forward Guidance Been Effective?
- Authors
Smith, A. Lee; Becker, Thealexa
- Abstract
The article discusses how forward guidance as practiced by the U.S. Federal Open Market Committee (FOMC) since 2008 had similar effects on the economy as past changes in the target federal funds rate. Topics cited include different channels through which forward guidance can influence economic activity and documents FOMC's intent behind its forward guidance and evidence that FOMC forward guidance on lower future rates increases employment and prices.
- Subjects
UNITED States; UNITED States. Federal Open Market Committee; FEDERAL funds market (U.S.); FUTURES; EMPLOYMENT; PRICES; ECONOMICS
- Publication
Economic Review (01612387), 2015, Vol 100, Issue 3, p57
- ISSN
0161-2387
- Publication type
Article