February 26, 2016 / 5:22 PM / 3 years ago

Time-based guidance a hint of FOMC's view: Fed's Fischer

Federal Reserve Vice Chairman Stanley Fischer is seen during the Federal Reserve Bank of Kansas City's annual Jackson Hole Economic Policy Symposium in Jackson Hole, Wyoming, August 29, 2015. REUTERS/Jonathan Crosby

NEW YORK (Reuters) - The public likes so-called time-based forward guidance on interest rates because it is the closest thing that Federal Reserve policymakers have to a consensus prediction of monetary policy, Fed Vice Chairman Stanley Fischer said on Friday.

“I think they like time-based because it’s their way of getting as close as they can to a committee forecast of interest rates,” he told the Initiative on Global Markets at Chicago Booth event.

Reporting by Jonathan Spicer; Editing by Chizu Nomiyama

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