The New York Times
Tue, November 23, 2010 -- 2:07 PM ET
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Fed Weighed Setting Target for Inflation, Minutes Show
Nearly three weeks before they announced a $600 billion
effort to push down long-term interest rates and shore up the
economy, officials at the Federal Reserve debated whether to
adopt to a formal target for inflation, and whether the Fed
chairman, Ben S. Bernanke, should "hold occasional press
briefings" to explain the Fed's economic outlook and
decision-making.
Those steps would represent a sea change in how the Fed
approaches monetary policy and how it communicates with the
public. On Wednesday, the Fed released minutes of the Nov. 3
meeting of its Federal Open Meeting Committee, which sets
monetary policy. It also disclosed for the first time that
the committee met on Oct. 15 by video conference, the first
such meeting since May 9, when the panel met to help address
the European sovereign debt crisis.
Read More:
http://www.nytimes.com/2010/11/24/business/economy/24fed.html?hp&emc=na
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