7.) 7  Board of Governors of the Federal Reserve System (2012), “Federal Reserve Issues FOMC Statement,” press release, December 12, paragraph 5. 8  For example, see Charles L. Evans (2012), “Macroeconomic Effects of FOMC Forward Guidance,” speech delivered at the Spring Panel on Economic Activity, Brookings Institution, Washington, March 22; and Alejandro Justiniano, Charles L. Evans, Jeffrey R. Campbell, and Jonas D.M.
An assessment of the risk of a de‑anchoring of expectations from the inflation target based merely on their current level could, in fact, be dangerous.8 Since a de-anchoring could occur abruptly and non‑linearly, expectations must be assessed both in terms of their convergence towards the price stability objective as well as their responsiveness to shocks and their dispersion.