Committee participants continued their discussion of potential long-run frameworks for monetary policy implementation, a topic last discussed at the July 2016 FOMC meeting. The staff provided briefings that summarized considerations regarding potential choices of policy rates, operating regimes, and balance sheet policies and highlighted tradeoffs associated with these choices. The staff noted that if the long-run implementation framework was such that the supply of reserve balances was quite abundant, then operational tools that help establish a floor under short-term interest rates, such as the payment of interest ... (full story)