Transcripts of the monetary policymaking body of the Federal Reserve from 2002–2008.

We often consider alternative ways of implementing policy, and in light of this discussion, the committee of two will look into the issue, for sure, Mr. Chairman. I would just note another observation that Dino made in his briefing, which is that implied volatilities are quite low. So the cost associated with a somewhat more volatile overnight rate doesn’t have much consequence if the Committee also has anchored down expectations about the target rate.

Keyboard shortcuts

j previous speech k next speech