- forward guidance should, in more normal times, be more a communication device than policy tool
- call for forward guidance to evolve to give more info on conditions the Fed assesses in setting policy
- FOMC could in longer run engage in "limited sales" of agency mortgage-backed securities to reduce residual holdings
- has plan for normalization challenges longer term
- Fed is very cognizant of risk of bubbles but so far this risk has been minimal
Oh goody, even more forward guidance that flips more often than a pancake
Cleveland fed head speaking at a scheduled event in Paris. Not an FOMC voter this year