• Possible Monetary Policy Could Be Affected for Some Time by Uncertainty Over Fiscal Policy, Effects on Economy

  • Many Sources of Uncertainty Affecting Trajectory of U.S. Economy, Monetary Policy

  • Has Been Speculation About Significant Changes to Fiscal Policy of Late

  • Magnitude, Composition, Timing of Any Fiscal Changes as Yet Unknown

  • Even Once Any Changes Enacted, Uncertainty Will Remain About Effects on Economy

  • Additional Fiscal Demand Will Likely Result in Inflationary Pressures When Economy Close to Full Employment, Inflation Near Target

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