It requires a substantial amount of work and continuous efforts on the part of central banks’ staff to improve and update the analytical tools and techniques. In particular, the speed of innovation in global financial markets and their increasing interlinkages contribute to changing the landscapes where central banks operate.
At its meeting that concluded early this month, the Committee left the target range for the federal funds rate unchanged but reiterated that it expects the evolution of the economy to warrant further gradual increases in the federal funds rate to achieve and maintain its employment and inflation objectives.