Speeches, Interviews, Essays

“Good afternoon. My colleagues and I remain squarely focused on our dual mandate to promote maximum employment and stable prices for the American people. We understand the hardship that high inflation is causing, and we remain strongly committed to bringing inflation back down to our 2 percent goal …”

“We have raised our policy interest rate by 5 percentage points and have continued to reduce our securities holdings at a brisk pace. We have covered a lot of ground, and the full effects of our tightening have yet to be felt. In light of how far we have come in tightening policy, the uncertain…

“I do believe that we are close to the point where we can hold rates in place and let monetary policy do its work to bring inflation back to the target in a timely manner.” ‘Along this path, I project that we will see modest growth this year, with real GDP coming in a bit…

“According to this analysis, monetary policy was about right shortly before the COVID-19 pandemic, as the actual policy rate was within the zone. During the pandemic, the policy rate recommended by the Taylor-type rules went to zero along with the actual policy rate. However, the policy rate was below the zone in 2022, suggesting that…

“I don’t really see a compelling reason to pause — meaning wait until you get more evidence to decide what to do … I would see more of a compelling case for bringing [rates] up . . . and then holding for a while until you get less uncertain about where the economy is going.” “I just think that…

Article excerpts available.  Video of Q&A available. —  “I am in a camp increasingly coming into this meeting of thinking that we really should skip, not pause … we’ve got to get to a point where we believe policy is restrictive and I think we’re close if not at that point right now.” The data…

“I expect spending and economic growth to remain quite slow over the rest of 2023, due to tight financial conditions, low consumer sentiment, heightened uncertainty, and a decline in household savings that had built up after the onset of the pandemic. Inflation has come down substantially since last summer, but it is still too high,…

“As you may know, it is part of a series the Federal Reserve began a few years ago, and the second we’ve hosted here in Boston. The FedListens series is an important opportunity for Fed policymakers, at both the regional banks and the Board of Governors in Washington, to expand the ways we hear from…

“It is very good to be here, and to be part of this Fed Listens event and discussion about the effects of the pandemic experience on the U.S. economy, highlighting challenges in the labor and housing markets.”

Article excerpts available.  Text and video have not yet been made available. “There is a lot of uncertainty about what if anything this bank situation does to consumer confidence, business confidence, business investment, consumer spending, availability of credit … there are a lot of questions about what is going to happen to demand and inflation…