Still, over time, monetary policy must strive to foster rates of growth and employment close to their long-run sustainable rates. The Federal Reserve must thus be accountable for the effects of its policies on the real economy as well as on inflation. The enhanced projections that I have described today will provide additional information pertinent to both halves of the Federal Reserve's mandate.
At a more technical level, the Federal Reserve differs from most inflation-targeting central banks in that it provides information about the independent projections of Committee members rather than a single collective forecast.