The US Federal Reserve will provide greater details about the normalisation of monetary policy well before interest rates rise, according to the minutes of its July meeting.
Members of the Federal Open Market Committee were generally supportive of proposals outlined by Fed staffers for implementing and communicating monetary policy once the Committee begins to tighten the stance of policy.
“Participants agreed that the Committee should provide additional information to the public regarding the details of normalisation well before most participants anticipate the first steps in reducing policy accommodation to become appropriate,” said the FOMC minutes.
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