, Columnist
What the Fed Chief's Next Message Should Be
Investors and the public need to hear a credible plan for managing the economy.
A place for clarity.
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In December, Federal Reserve officials indicated that they planned to raise interest rates by a quarter percentage point every three months for the next three years. That framework is already in disarray, leaving investors and the general public guessing about how the Fed plans to manage the economy.
When Chair Janet Yellen speaks later this week at the Kansas City Fed's annual conference in Jackson Hole, she'll have to offer a much more durable and convincing plan.