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ReutersFed announces policy framework review, sets conference for May 15-16
The U.S. Federal Reserve on Friday announced plans for a May 15-16 conference and public "Fed Listens" events around the country as part of a review of its long-run strategy and approach to policymaking. The so-called "framework review," the second of what are now intended as regular five-year analyses of the U.S. central bank's overarching approach to monetary policy, will kick off with discussions among policymakers beginning in January, but look outside the institution as well through the conference and the community events. Notably the statement said the Fed's 2% inflation goal "will not be a focus of the review," a likely disappointment to some in academic and policy analysis circles who feel the specification of a target, and the level at which it is set, has become a problem for the central bank.
