Since 2011, the Federal Reserve Chair has held a press conference following each FOMC meeting with an SEP, in part to discuss the projections. 7 “Appropriate monetary policy” is Fedspeak for a policy that delivers on the Committee’s interpretation of its legislated mandate.
By the way, in these colleges for the CCPs, it’s not only the central bank participating but the SSM too, because, as the customers of CCPs are the big banks, and we supervise the big banks, there’s an SSM observer there too.