The central bank’s quarterly summary economic projections are easy to misinterpret. Every quarter the Federal Reserve publishes a summary of economic projections. The one released during next week’s Federal Open Market Committee meeting will be scrutinized for information on the central bank’s view of inflation, economic conditions and ...

The Fed’s actions on rates are driven by data. Central bankers could do a better job of explaining this. The Federal Reserve’s delayed response to inflation has hurt the economy and the central bank’s credibility. This helps explain Chairman Jerome Powell’s forceful affirmations of the Fed’s commitment to its 2% inflation target. ...

A strategic review is planned for 2025 at the earliest. Given its mistakes, it needs one now. As the Federal Reserve deliberates how much to raise interest rates, it is sidestepping a fundamental problem: its lack of a viable monetary-policy strategy. The new strategic framework embraced in 2020, widely recognized as flawed from the beginning, ...

The Federal Reserve has dramatically failed to deliver on its commitment to preserve price stability. Inflation for personal-consumption expenditures is over 6%, the highest in 40 years, and more than three times the Fed's target of 2%. Recent data show no sign of deceleration. The Fed now faces a daunting task. While the Federal Open ...

An increase in rates this week is a good start. The process will be painful, but it’s also necessary. Consumer-price inflation rose to 8.6% in May, its highest rate in 40 years. This tax on households and businesses threatens the economy. The Federal Reserve runs the risk of compounding a string of recent errors by being too tentative in ...

The Federal Reserve first published a “Statement on Longer-run Goals and Monetary Policy Strategy” in January 2012. The purpose was to enhance transparency and accountability by clarifying the interpretation of the statutory mandates established by Congress. The Fed announced in November of 2018 its intention to review the strategies, tools, ...

In November 2018, the Federal Reserve announced its intention to review the “strategies, tools, and communication practices it uses to pursue its congressionally-assigned mandate.” It is seeking input from a broad range of stakeholders as part of the process. This is a useful exercise, one that could represent an important step toward the ...