Speeches, Interviews, Essays

“Fintech, in other words, can help foster financial inclusion. That’s undeniable. But that is far from inevitable.” “Like all tools, fintech can be used for good, ill, or somewhere in between. Just as fintech can foster frictionless legitimate transactions, for instance, it can foster frictionless fraudulent transactions as well. Fraud is an example of where…

“I can only speak for myself. I think we are… Hey guys, can we focus here? I think we are laser focused on getting inflation down, and whether we are technically in a recession right now or not, it doesn’t change my analysis. I’m focused on inflation and where inflation is likely going, and that,…

Regarding Addressing Inflation: “We have our interest rate policy and that’s what we’ve been embarking on. And we have more work to do, because we have not seen that turn in inflation. What we want to do is see it on a sustainable downward path towards our longer-run goal of 2 percent, and we have…

St. Louis Fed President Jim Bullard talked about the academic literature related to “credible” versus “incredible” disinflation and how that may apply to current conditions. He spoke before the Money Marketeers of New York University.” Current inflation in the U.S. and the euro area (EA) is near 1970s levels, Bullard said. The disinflation under former…

“I totally agree. I’m on the soft landing side and by soft landing I mean I expect us to have a slower economy. That’s what we’re trying to do is slow the economy we’re taking off the enormous support we gave during the pandemic and we’re trying to get the economy working on its own…

“Fundamentally the labor market appears to be very strong, while GDP, the amount the economy is producing, appears to be shrinking so we’re getting mixed signals out of the economy. From my perspective, in terms of getting inflation in check, whether we are technically in a recession or not doesn’t change my analysis. I’m focused…

“The pandemic has been very unpredictable in terms of how the economy has responded. So we’re going to have to – I’m convinced we’re going to have to do more in terms of interest rate moves. But exactly how much and in what trajectory will depend on how the economy evolves over the next several…

“At today’s meeting the Committee raised the target range for the federal funds rate by 3/4 percentage point, bringing the target range to 2-1/4 to 2-1/2 percent. And we are continuing the process of significantly reducing the size of our balance sheet, which plays an important role in firming the stance of monetary policy.” “Over…

Primarily a speech about CRA.  No comments were made about the economy. “In addition, now that many banks conduct significant lending and investments outside of their branch networks, it is important to ensure CRA accounts for these different business models. For example, we propose establishing retail lending assessment areas where a large bank has a…

“I’m a little skeptical that we’ll get to recession. I think the US economy is slowing, but it’s slowing to the trend pace of growth from a very rapid pace of growth that occurred in 2021. And I think that’s the more likely baseline is that after 5% plus real GDP growth in 2021, now…