At some point, however, as economic recovery takes hold, we will need to tighten monetary policy to prevent the emergence of an inflation problem down the road. The Federal Open Market Committee, which is responsible for setting U.S. monetary policy, has devoted considerable time to issues relating to an exit strategy. We are confident we have the necessary tools to withdraw policy accommodation, when that becomes appropriate, in a smooth and timely manner.
What tools? All it takes is a vote
by the Fed to raise rates (or reverse policies like quantitative easing). Why make it sound more techo-geek-complicated by talking about "tools"?