News Headline Summary

Fed's Yellen says Fed should link low-rate outlook to economic goals

Says:
- Firmly anchored expectations means Fed can tolerate transitory deviations in inflation to stabilize employment.
- Fed has explored adopting consensus forecast but these are exceptionally difficult to develop.
- Fed might decide to eliminate calendar date entirely from its policy statement if it adopted thresholds.
- Interest rate lift-off decision would require further Fed committee deliberation and judgement.

Update details:

- These comments from Yellen (who is a voter) come just a day ahead of the FOMC minutes are due to be released from the October meeting, where little is expected but there is a possibility that the committee discussed economic targets. The release of the minutes is due at 1900GMT tomorrow (1300CST).

Print 20:30, 13 Nov 2012 - Fed - Source: Newswires