Starting in 1999, the FOMC began to release a public statement after each of its meetings. And beginning in 2000, in addition to describing the current policy decision, the post-meeting statement contained a paragraph on the "balance of risks" that was meant to indicate how the Committee "assesses the risks of heightened inflation pressures or economic weakness in the foreseeable future."
2 Adam, Klaus and Junyi Zhu (2014), “Price Level Changes and the Redistribution of Nominal Wealth Across the  Euro Area”, Journal of the European Economic Association, Vol. 14, pp 871–906. 3 The chart reflects the changes from Q2-2008 to Q2-2016, and from Q2-2014 to Q2-2016, in the 4-quarter moving  average of net interest income.