I am sure that the FOMC will release more specific information if and when the need for such approaches appears to be closer on the horizon. I motivated today’s talk by reference to the May 6 statement. Let me end the talk by discussing the role of such statements in both traditional and nontraditional monetary policy.
In this context, policy options that are apparently reasonable  1  Shares based on PPP‐adjusted figures for GDP. 2  Figures provided by, or calculated with data from, International Monetary Fund (2015): World Economic Outlook Database, October. See also Mohan, Rakesh and Muneesh Kapur (2015): “Emerging Powers and Global Governance: Whither the IMF?”, IMF Working Paper No. WP/15/219, October.