What challenges does the Fed face in creating certainty about its reaction function?
Mervyn King Is Not a Great Fan of Forward Guidance

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2.
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How has low inflation affected the Fed's decision-making process?
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3.
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Why is it considered unwise to talk too much without a clear understanding of future directions?
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What is the significance of forward guidance in the context of central banking?
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What approach does the speaker suggest for responding to economic events as they unfold?
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