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The Federal Reserve s New Framework And Outcome-Based Forward Guidance, Vice Chair Richard H. Clarida, At SOMC: The Federal Reserve’s New Policy Framework A Forum Sponsored By The Manhattan Institute s Shadow Open Market Committee, New York, New York (Via Webcast) The Federal Reserve s New Framework And Outcome-Based Forward Guidance, Vice Chair Richard H. Clarida, At SOMC: The Federal Reserve’s New Policy Framework A Forum Sponsored By The Manhattan Institute s Shadow Open Market Committee, New York, New York (Via Webcast) Date 14/04/2021 On August 27, the Federal Open Market Committee (FOMC) unanimously approved a revised Statement on Longer-Run Goals and Monetary Policy Strategy, and, at its September and December FOMC meetings, the Committee made material changes to its forward guidance to bring it into line with this new policy framework.1 Before I discuss the new framework and the policy implications that flow from it, I will first review some important

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