Brian Chappatta, Columnist

The Fed’s ‘Explicit Guidance’ Is Full of Loopholes

The central bank’s new outcome-based guidance on the path of interest rates is light on specifics.

September 16, 2020 at 8:08 PM UTC

Brian Chappatta is managing editor of Bloomberg News' leveraged finance and distressed debt teams. He was previously managing editor and team leader of its wealth group. Before that he was a Bloomberg Opinion markets and finance columnist and a bonds reporter for Bloomberg News.

Shoulder shrug.
Photographer: Daniel Acker/Bloomberg

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Federal Reserve officials determined at their meeting two months ago that providing greater clarity about the likely future path of the federal funds rate “would be appropriate at some point.”

That moment is now.