Time-based guidance a hint of FOMC's view: Fed's Fischer
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Federal Reserve Vice Chairman Stanley Fischer is seen during the Federal Reserve Bank of Kansas City's annual Jackson Hole Economic Policy Symposium in Jackson Hole, Wyoming, August 29, 2015. REUTERS/Jonathan Crosby
NEW YORK (Reuters) - The public likes so-called time-based forward guidance on interest rates because it is the closest thing that Federal Reserve policymakers have to a consensus prediction of monetary policy, Fed Vice Chairman Stanley Fischer said on Friday.
"I think they like time-based because it's their way of getting as close as they can to a committee forecast of interest rates," he told the Initiative on Global Markets at Chicago Booth event.
(Reporting by Jonathan Spicer; Editing by Chizu Nomiyama)
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