The central bank’s policy committee said it would be monitoring “actual and expected inflation developments relative to its symmetric inflation goal.”

The central bank’s policy committee said it would be monitoring “actual and expected inflation developments relative to its symmetric inflation goal.”
In this context, “symmetric” implies that it aims for 2 percent inflation and would be equally displeased by inflation that was too high or too low.
Second, markets now believe the Fed’s message that higher rates are on the way; bond markets suggest
that the Fed will actually follow through with its intentions on gradual interest rate rises.
Ms. Yellen evinced little fear that the Fed is behind the curve, suggesting
that two more interest rate increases are on the way over the remainder of 2017.
The overwhelming message was of gradualism — both on the rate of economic improvement
and the Fed’s own efforts to wind down its era of low interest rates.
That implies that the Fed is not inclined to overreact to the possibility
that inflation could drift slightly — and in the Fed’s view temporarily — above 2 percent in the coming months.
First, that day now feels imminent, with the unemployment rate at 4.7 percent and inflation closing on the 2 percent the Fed thinks best.
Yellen’s Message: My Work Here Is (Mostly) Done -
By NEIL IRWINMARCH 15, 2017
The economy will keep growing just enough to put more Americans back to work, but without overheating to generate excessive inflation.