In my understanding, policy frameworks provide structured logical, causal relationships between the concepts, available evidence and policy recommendations.
In early 2019, the Federal Open Market Committee (FOMC or the Committee) launched a comprehensive review of its monetary policy framework (MPF)—the strategies, tools, and communication practices employed by the Federal Reserve to achieve its congressionally mandated goals of maximum employment and price stability.
Not long ago, the Federal Open Market Committee, a committee of the Federal Reserve, launched a review of its policy framework. However, given this is essentially the Federal Reserve reviewing its own policy, how does it insure that the Federal Reserve is held accountable for its action and for failing to act appropriately to pursue it's objective, which is the mandated goals of maximum employment and price stability? Can the government hold it accountable in some other way. If so, how?