Fed/Collins: Economic Outlook Uncertainty Limits Fed's Guiding Ability

Boston Fed President Susan Collins stated that uncertainty regarding the economic outlook limits the kind of guidance that can be provided concerning the outlook for monetary policy. Collins remarked that "we are well positioned when it comes to monetary policy," and given the unpredictability of the short-term economic outlook, she noted that "this is really not a moment where clear forward guidance is appropriate." She reiterated that the Fed's decisions at the policy meeting in December will be guided by the data.