Fed won’t be predictable after lifting rates, Fischer says

NEW YORK (MarketWatch) — The era of the Federal Reserve giving forward guidance to financial markets about its next steps on monetary policy is coming to an end, a top U.S. central banker said Friday.

Fed Vice Chair Stanley Fischer said the Fed would feel too constrained if it “pre-committed” to a steady path for interest rates and so the central bank would not “telegraph every action....

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