Institutional reforms, enforceable tax policy, simplified accounting framework and a fair and efficient judicial system, are important for effective policy implementation in a coherent, credible and consistent manner. Credible information Poor and unreliable data is another major constraint to credible policies.
The FOMC had previously indicated this was the earliest point at which it would consider raising interest rates, especially if projected inflation continues to run below the Committee’s 2 percent target. On asset purchases, the FOMC has indicated that it will continue the purchases until the outlook for the labor market has improved substantially in the context of price stability.