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Unlikely to raise federal funds rate if inflation remains below target. Your own proceyour own projecti below target through 2016. Is that consistent with a liftoff in thorough fund rates in that period . Related, is there a case to be made your threshold should be supplemented with lower balance for inflation, i. E. , you wont tighter if inflation is lower bound . So, in the latter part, you know, of course youre seeing Interest Rate projections and inflation projections separately. Youre not seeing them combined by individuals. Each individual is making their own projection. I think youre right. We should be very reluctant to raise rates if inflation remains persistly below target. Thats one of the reasons that i think we can be very patient in raising the federal funds rate since we have not seen any inflation pressure. On having an inflation floor, that would be in addition to the guidance. We are discussing how we might clarify the guidance on the federal funds rate. That is certa
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