Earlier the Federal Reserve’s Jeremy Stein spoke from a prepared text on the US economic outlook and monetary policy to the Money Marketeers at New York University , headlines here; now he is taking and answering audience questions:

  • Fed is not responsible for minimizing market volatility
  • Move to qualitative guidance on rates has virtues
  • Sticking with quantitative guidance risked adopting triggers for a rate rise
  • Communication shift means the Fed is getting closer to normal

Headlines via Reuters and Bloomberg