Federal Reserve to review strategies, tools, and communication practices - Press release

"The Federal Reserve next year will review the strategies, tools, and communication practices it uses to pursue its congressionally-assigned mandate of maximum employment and price stability," the Federal Reserve said in a recently published press release.

The review will include outreach to a broad range of interested stakeholders.

"With labor market conditions close to maximum employment and inflation near our 2 percent objective, now is a good time to take stock of how we formulate, conduct, and communicate monetary policy," said Federal Reserve Chairman Jerome H. Powell.

As part of the outreach effort, the Federal Reserve System will sponsor a research conference June 4-5, 2019, at the Federal Reserve Bank of Chicago, with speakers and panelists from outside the System. Additionally, Reserve Banks will host a series of public events around the country to hear from a wide range of stakeholders.

Beginning around the middle of 2019, Federal Reserve policymakers will discuss the perspectives offered during the outreach events as part of their review of how to best pursue the Fed's statutory mandate. At the end of the process, policymakers will assess the information and perspectives gathered during the year of review and will report their findings.