2 It is important to note that the dates and ample reserves outcome specified in the  Plans for Reducing the Size of the Balance Sheet issued by the FOMC in May 2022 are not considered explicit forward guidance in this context.
Explicit forward guidance, defined here in the case of asset purchases, entails specifying economic outcomes, such as labor market or inflation conditions, that must be achieved before the Committee would consider altering the pace or other details of its asset purchases.