What do changes in the Fed's longer-run goals and monetary strategy statement mean?

What is the Federal Reserve's "Statement on Longer-Run Goals and Monetary Policy Strategy"? The Federal Open Market Committee (FOMC)-the Federal Reserve governors in Washington and the presidents of the 12 regional Fed banks-first published a Statement on Longer-Run Goals and Monetary Policy Strategy in 2012. That statement included the Fed's first formal and public commitment…             ...(read more)

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