The US Federal Reserve said it will begin its twice-a-decade review of its monetary policy strategy early next year.
The review will cover the Fed’s statement on its long-term goals and approach to monetary policy, but the central bank’s 2% inflation target will not be on the agenda, according to the Fed statement.
The Fed confirmed that central bank officials will begin discussing the review at their first policy meeting of the year in late January, and the framework review will also include a research conference in mid-May.
“We are open to new ideas and critical feedback and will draw on the lessons of the past five years and adapt our approach where appropriate to best serve the American people, for whom we have a responsibility,” Fed Chairman Jerome Powell said.
The most recent review of the framework began in 2019 and concluded in mid-2020.
