And the specific numbers that were selected as thresholds for a possible change in the federal funds rate target should confirm that the FOMC expects to hold that target lower for longer than would be typical during a normal economic recovery.
This improved guidance should help the public to accurately adjust their expectations for the federal funds rate in response to new financial and economic information, which should make policy more effective.13 In addition, I hope that improved guidance will help to boost confidence in the  7  Empirical studies of the Committee’s date-based forward guidance suggest that changes in that guidance generated an appreciable effect on longer-term yields.