Federal Reserve officials will publish economic forecasts quarterly and extend the horizon of their estimates, presenting what Chairman Ben Bernanke called a “provisional” plan for interest rates, Bloomberg reported.

“The changes will provide a more timely insight into the committee’s (Federal Open Market Committee’s) outlook, will help households and businesses better understand and anticipate how our policy decisions respond to incoming information and will enhance our accountability for the decisions we make,” Bernanke said in prepared remarks at the Cato Institute, a research group in Washington, D.C.

Policy-makers will release new forecasts on Nov. 20, in the minutes of the Federal Open Market Committee’s Oct. 30-31 meeting, offering investors the Fed’s latest expectations for prices, gross domestic product and unemployment in the coming three years. Next year’s publications will arrive in minutes of the January, April, June and October meetings, and continue to be a part of the central bank’s semiannual reports to Congress in February and July, the Fed said.

Other changes include publishing comparisons with the previous set of forecasts and charts that show the “distribution of participants’ projections and how that distribution has changed since the previous release,” Bernanke said. The Fed will continue to provide the full range and “central tendency” of the forecasts, which excludes the three highest and lowest figures. Bernanke said the committee’s projections would function in three ways: “as a forecast, as a provisional plan and as an evaluation of certain long-run features of the economy.”

Though Bernanke’s goal of increasing transparency to the central bank advanced, they fall short of his longtime aim of adopting a numerical inflation target.