However, since the central bank conducts policy referring to price and economic indicators, that is, based on data, it is generally not possible to chart the future course of monetary policy by announcing in advance that it will raise interest rates at certain points in time in steps of, say, 25 basis points regardless of economic conditions.10 That said, if future economic indicators could be predicted with some certainty, it might be possible to outline future policy accordingly.
I think the Federal Reserve believes that the U.S. economy is in such a situation. In the United States, where inflation expectations are anchored at 2 percent, it is possible to predict future price developments more reliably, so that the Federal Reserve can chart the course of future policy.