The purpose of this paper is to reformulate the concept of interpretation in a way that better reflects the interpsychic and processive dimensions of this concept as increasingly represented in psychoanalytic writings. Implicit in my redefinition is the view that, while the interpretive process is essential to therapeutic action, the notion of making interpretations is an artificial and problematic way of viewing the work of analysis. In this paper I will review an expanded definition of interpretation as developed through the writings of Hans Loewald and elaborated by more contemporary thinkers such as Sheldon Bach, Ronald Britton, and Antonino Ferro.