Articles
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Fed meeting is focusing on plan to forecast rates
Federal Reserve officials are expected to spend their final policy meeting of 2011 fine-tuning a strategy for communicating changes in interest rates more explicitly.
Many private economists don’t expect any major announcement after the meeting Tuesday. But most think Fed officials will be completing a plan to forecast the direction of short-term rates starting next year.
Doing so would help assure investors, companies and consumers that rates won’t rise before a specific time. The new communications strategy could be unveiled as soon as next month, after the Fed’s Jan 24-25 policy meeting.
The Fed has kept its key rate, the federal funds rate, at a record low of between zero and 0.25 percent for three years. But the economy, while improving, is still weak.
Unemployment remains high at 8.6 percent. The Fed is still considering ways to keep downward pressure on long-term rates. The goal is to encourage consumers and businesses to borrow and spend more and invigorate the economy.
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