policy to contribute best to the economy over time. Fear of liftoff-the reluctance to start the process of policy … occasionally adapt to the evolving understanding of the economy. Congressional legislation could guide the Federal Reserve in this …

the economy promptly and accurately and can therefore adjust policy based on this information. However, in reality …, decisions are made in real time when there is considerable uncertainty about the true state of affairs in the economy. Policy … must be made with partial information. Using a simple model of the U.S. economy, I show that failing to account for the …

approach needed for monetary policy to contribute best to the economy over time. Fear of liftoff—the reluctance to start the … Reserve the flexibility to account for and occasionally adapt to the evolving understanding of the economy. Congressional …

policy to contribute best to the economy over time. Fear of liftoff — the reluctance to start the process of normalization … the evolving understanding of the economy. Congressional legislation could guide the Federal Reserve in this direction …

state of the economy defines the monetary policy landscape. Using the euro area as laboratory this paper explores the design … of robust policy guides aiming to maintain stability in the economy while recognizing this complexity. We document …