To keep cyclical price pressures and any transitory spike in energy prices from permanently disrupting the price environment, the Fed will have to continue shifting monetary policy from its current somewhat accommodative stance to a more neutral one,
We have been moving monetary policy toward neutrality for some time, and our policy appears to be close to neutral now.
Our policy appears to be close to neutral now.
shift gears, moving from its current stance, geared to stimulating a recovery, to a more neutral stance.