Speeches, Interviews, Essays

“The disruptive potential of technology has been unusually noticeable just in the short time since the previous conference in the series last October. After many years of relatively under-the-radar research, generative artificial intelligence [AI] exploded onto the public scene last November with the release of ChatGPT and, soon afterward, a number of competitors.” “These remarkable…

On 5/23/23, Neel Kashkari published an essay about the financial system. The CNBC interview discusses the essay, including a different regulatory system for banks, which would cause banks to hold higher amounts of capital. Monetary policy was also discussed.

“Optimal policy…is about extreme data dependence and policy optionality.” The monetary policy tightening “could start to show through at any point in time. And when you add the credit tightening that we’ve been seeing to that, it means that there’s a lot of factors pulling back the reins on the economy … That’s why we…

Article excerpts available.  Text and video have not yet been made available. “I think we’re going to have to grind higher with the policy rate in order to put enough downward pressure on inflation … I’m thinking two more moves this year, not exactly sure where those would be. But I’ve often advocated sooner rather…

Text and video have not yet been made available. The Technology-Enabled Disruption conference (TED), now in its fifth year and put on in partnership with the Federal Reserve Banks of Atlanta and Dallas, is designed to provide a better understanding of technology-enabled disruption and explore the phenomenon’s implications for the broader economy—for households and businesses.

Text and video have not yet been made available. The Technology-Enabled Disruption conference (TED), now in its fifth year and put on in partnership with the Federal Reserve Banks of Atlanta and Dallas, is designed to provide a better understanding of technology-enabled disruption and explore the phenomenon’s implications for the broader economy—for households and businesses.

“Our financial system has required three massive government interventions in 15 years, starting with the Global Financial Crisis in 2008, followed by a near-collapse of markets in 2020 as the COVID-19 crisis erupted, and now, yet again, in 2023 when Silicon Valley Bank, Signature Bank and First Republic collapsed, triggering strains in the regional banking…

“I’m open to the idea that we can move a little bit more slowly from here.” “I would object to any kind of declaration that we’re done. If the committee chooses to skip a meeting because we want to get more information, I could make the argument why that makes sense … A skip to…

“To the extent that financial stability goals that banks are going to be conserving capital and raising lending standards and whatever to stabilize their financial positions, that’s perfectly dovetailing with the monetary policy goals. And so that’s why I think it’s worth—it’s not, I will hesitate. The word “pause” is super loaded…so I’m not going…

Question: Does that mean you’re open to skipping June? “I’m open at this point. The arguments, the things we’ve just been talking about, I can make the argument either way. And I want see whatever data we’re going to get in, whether it’s the formal economic data, which there’s not a lot of, or it’s…