Post-crisis period: same strategy, new tactics I will now examine the strategic and tactical considerations that go into FOMC deliberations by discussing past monetary policy decisions in the context of our mandate from the Congress to pursue maximum employment and price stability. The FOMC’s monetary policy strategy is based on three basic principles. First, our monetary policy must be goal driven.
But let’s look at the facts, let’s look at how the economy evolves. That’s what we do; we need to be fact-driven, we need to be clear in our communication and we will be. I’m saying today: don’t assume that it will be on autopilot.