The Federal Reserve took these actions to help offset the restraint imposed by the tightening of credit conditions and the weakening of the housing market. However, in light of recent changes in the outlook for and the risks to growth, additional policy easing may well be necessary. The FOMC will, of course, be carefully evaluating incoming information bearing on the economic outlook.
4 See, for example, Tucker, P. (2018), “Pristine and Parsimonious Policy: Can Central Banks Ever Get Back to It  and Why They Should Try”, in Hartmann, P., Huang, H. and Schoenmaker, D. (eds. ), The Changing Fortunes of Central Banking, Cambridge University Press. See also Summers, L. (2017), “Central Bank Independence”, Bank of England: ‘Independence – 20 years on’ Conference.