fed minutes, 2011-04-27
A couple of participants noted that any normalization strategy would likely involve an elevated balance sheet with the federal funds rate target near the IOER rate--as in floor-type systems--for some time, and therefore the Committee would accumulate experience during the process of normalizing policy that would allow it to make a more informed choice regarding the longer-term framework at a later date.
Sentiment: neutral
Topic: mp_interest_rate