EFTA Document EFTA01459051

Despite substantial progress towards its targets since the crisis, Fed policy remains extremely accommodative Policy is its furthest from normal on record even as the Fed nears its targets on unemployment and inflation 20 16 12 8 4 0 1960 1970 1980 1990 -Distance from targets' -Distance from "normal policy" 2000 2010 Note: (*) Our distance measures fdlow a speech by St. Louis Fed President Am Bullard on 17 July 2014 Source: Haver Mat'tics. Deutsche Bank Research The key consi