PANews April 21 news, Federal Reserve Chairman nominee Waller stated that if appointed and takes charge of the Federal Reserve, he will push for comprehensive reforms in policy-making. Waller told the Senate committee: “In my view, the Federal Reserve needs fundamental policy reform. The mistakes made in addressing inflation during the COVID-19 pandemic require such reform, and I believe this means a change in the way policy is executed. I think this necessitates a different, entirely new inflation framework.” Waller stated that we need new tools, we need new ways of communication, and he mentioned forward guidance, economic forecasts, and the dot plot. He said the Federal Reserve should wait until meetings to make statements, as forecasts can hinder decision-making.

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