In particular, we have not yet begun to consider potential changes to communication practices, including the Committee’s consensus Statement on Longer-Run Goals and Monetary Policy Strategy. The statement has helped articulate and clarify the Federal Reserve’s approach to monetary policy, and we have agreed that any changes we might make to our strategy would likely call for some modification of this consensus statement.
We will continue to report on our discussions in the minutes of our meetings and share our conclusions when we finish the review, likely around the middle of next year. Concluding Thoughts The economy is constantly evolving, bringing with it new policy challenges.