1548 ET - At a conference in Washington, D.C., Fed officials are hearing this afternoon from economist Silvana Tenreyro on her research regarding the Fed's policy tools. She notes that when the Fed gives forward guidance about how policy will change in the future, there is a tradeoff between the guidance's efficacy and the lack of flexibility it implies about the Fed's future decisions. As inflation heated up in the early 2020s, the Fed may have set too high a bar for raising interest rates based on its initial guidance, Tenreyro suggests. (matt.grossman@wsj.com, @mattgrossman)
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May 15, 2025 15:49 ET (19:49 GMT)
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