Speeches, Interviews, Essays

“Restoring price stability will take some time and requires using our tools forcefully to bring demand and supply into better balance. Reducing inflation is likely to require a sustained period of below-trend growth. Moreover, there will very likely be some softening of labor market conditions. While higher interest rates, slower growth, and softer labor market…

“Obviously, doing 75 in June and July sets a pace that I think the public is looking for, what changes that would cause you to step down. I think certainly at some point, getting to a steadier more sustainable pace is going to be important, so I think it’s too soon to say what should…

“Well, I can only speak for myself. I’d like to see us get to say above 3.4. That was the last median and the SEP. And then maybe sit for a while. But if the data says we need to keep increasing, we keep increasing. We’ve got to get inflation under control. That is job…

“I think I said 3.75 to four is my target for this year, for the end of this year. And I like the front loading, I like the idea that you get the rate increases in earlier, rather than later. We’ve got inflation right now, we’ve got a strong labor market right now. It seems…

“This scramble for teachers and staff coincides with the recent news that the overall U.S. economy has recovered 100 percent of the jobs lost during the pandemic. It’s a reminder that the jobs recovery has been unequal across sectors, leaving segments of our economy behind.” “The economy is not just missing K-12 staff. It is…

“When we raise interest rates, the first thing we think is going to happen is the housing is going to be affected. So the sectors that we would expect to see affected by our tightening monetary policy are in fact slowing down. And the question now is how long before inflation comes down, how much…

Transcript not available (link to interview is provided below). “So we had these two things going on at the same time, a lot of demand and a then restrained supply.  That ends up showing up as high prices and so once we figure out, that we thought, that I thought that these high inflation readings…

“Payments is another area where innovation continues to flourish, and the Federal Reserve is actively engaged in shaping the future payments landscape.” “The FedNowSM Service will enable financial institutions of every size, and in every community across America, to provide safe and efficient instant payment services. It is intended to be a flexible, neutral platform…

“Unlike any previous recession, the downturn in employment fell more heavily on women than men. The unemployment rates for men and women were essentially the same before the pandemic but ended up much higher for women.6 That was very different from past recessions. For example, after the recession following the housing crisis, unemployment for prime…

Transcript not available (link to interview provided). Barkin: “We’re happy to see inflation start to move down.  I’d like to see a period of sustained inflation under control and until we do that I think we’re just going to have to continue to move rate into restrictive territory.” https://www.cnbc.com/2022/08/12/feds-barkin-says-rate-increases-need-to-continue-until-inflation-holds-at-2percent.html