NEW YORK Feb 20 U.S. Federal Reserve
policymakers considered changing the way they unveil their own
personal predictions for where interest rates should be in
future years, but decided for now to leave things as they are
due to the complexity of the matter.
Minutes from the Fed's Jan. 29-30 policy meeting showed
general agreement among the 19 policymakers that it would be
useful to add a median projection to forecast charts that are
published at the close of such meetings.
The charts, known as the Summary of Economic Projections, or
SEPs, show where individual policymakers expect the key federal
funds rate to be up to four years into the future, as well as in
the longer run. They also show when policymakers expect the
first rate rise to come, given rates have been near zero since
"Most of the options involved displaying the information
currently collected from participants in new ways by using
different summary statistics or aggregations," the minutes said.
Fed Chairman Ben Bernanke ultimately asked a subcommittee to
explore different approaches to giving more information in the
SEPs, according to the minutes.
The SEPs do not identify the individual policymakers.