Citi's Rahbari Sees Fed Avoiding Rules-Based Policy

The transcript discusses the complexity of implementing rules-based monetary policy, highlighting the unpredictability of the Federal Reserve and the challenges of applying specific rules. It emphasizes the need for accountability and communication in central banking, with a focus on inflation and the nuanced strategies required. The discussion also touches on the importance of signaling intentions in advance to manage market expectations.

In what ways does the speaker suggest that the Fed has been learning on the job?

What is the significance of communication in monetary policy as highlighted in the text?