FOMC: dealing with the plumbing when it comes to liftoff

As promised on Friday, here are a few thoughts on the section of the last FOMC minutes around “Liftoff tools and options”. The first thing that struck me was the following: “In their discussion of these issues, participants generally agreed that it was very important for the commencement of policy firming to proceed successfully. Consequently, … More FOMC: dealing with the plumbing when it comes to liftoff

FOMC: June hike remains on the table, but the hurdle is higher

The January FOMC minutes were unusually long. In addition to the usual annual update of the longer-run goals of monetary policy strategy (which were essentially unchanged from last year, except to reflect new central estimates for the NAIRU), the minutes also contained a further technical discussion on tools for policy liftoff. There are some interesting … More FOMC: June hike remains on the table, but the hurdle is higher