Great discussion! Eugene Fama mentions "... if it (forward guidance) reduces uncertainty... that's always positive". I imagine this is a primary reason the Fed announced earlier this year (2020) their goal of keeping rates low for at least the next couple years. The discussion about when rates would rise is such a fascinating discussion with what is going on right now with Covid-19. Randall Kroszner makes a great point about the Fed's intentions and I really like Anil Kashyap's insights and implications of the Fed's use of forward guidance.

5 years after... the FED keeps using short-term forward guidance over and over

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