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The downside risk is returning.I understand why Mr Bernanke, and the rest of the FOMC, would consider it to be too soon to say anything definitive about the future course of policy.
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While the signs of strength in the jobs market could intensify an already lively debate at the Fed on the future course of monetary policy, economists said the central bank was unlikely to scale back its monetary stimulus.
1938 Britain Maps Compromise LONDON — The future course of British policy toward the dangerous quarrel between the Germans and the Czechs was decided at a historic Cabinet meeting at No. 10 Downing Street today.
This in turn is a legacy of the high inflation of previous years: people bought houses on credit as a hedge against rising prices, and banks and building societies lent at floating rates rather than fixed because of uncertainty over the future course of monetary policy.
DealBook » A Cleaned-Up Signature for Treasury Secretary Lew | TWITTER Uncertainty Over the Fed's Plans | The New York Times writes: "The Federal Reserve chairman, Ben S. Bernanke, faces the increasingly difficult challenge of shaping investor expectations about the future course of Fed policy amid growing signs that the Bernanke era at the central bank is drawing to a close".
The "entire future course of monetary policy"?
Even if the overnight rate is close to zero, the Committee should be able to influence longer-term interest rates by informing the public's expectations about the future course of monetary policy.
"Fed Chairman Alan Greenspan has come to be seen as the U.S. economy's indispensable man," Lawrence B. Lindsey, a former Fed governor, wrote recently, "and the prospect that he might depart when his term expires is creating uncertainty about the entire future course of monetary policy".
Her selection bolsters the credibility of promises the Fed has made about the future course of monetary policy that have been a hallmark of its approach ever since it dropped interest rates to zero in 2008.
So are the role and shape of the European Union, and the future course of American foreign policy.
Business confidence has remained subdued as a result of uncertainty about the future growth of markets both at home and abroad and more recently about the future course of United States fiscal policy.
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