Speeches, Interviews, Essays

Transcript not available (link to interview provided). https://www.cnbc.com/2022/06/29/feds-mester-backs-75-basis-point-hike-in-july-if-conditions-remain-the-same.html

“Clearly, we’re far from reaching gender, educational, racial and generational economic equity— but it’s imperative that we try. Doing so will reap benefits not just for our families but for the broader economy as well.” Monetary policy was not covered in this speech.

“Achieving “well anchored” in this sense would depend on how well the public understands the central bank’s inflation goal and how strongly it believes the central bank is committed to returning inflation to goal when it has deviated. This implies that central bank communications can play an important role in keeping inflation expectations anchored and,…

“And now we’re seeing in our projections and I very much agree with this, the unemployment rates actually going to be moving up over the next few years. So that’s not a recession, but I think that’s my base case is the economy slows enough to see the unemployment rate get up to about a…

“The lesson from these two different approaches to monetary policy is the importance of staying ahead of—rather than getting behind—inflation. In particular, the takeaway is that getting ahead of inflation will keep inflation low and stable and promote a strong real economy.” “In the 1990s, the FOMC stayed ahead of inflation as it tightened monetary…

In the Speech Segment: “Last week, the FOMC increased the funds rate by 75 basis points and signaled that further rate hikes of a similar magnitude are likely.13 This was the largest single meeting increase since 1994 and puts policy on an expeditious path to neutral by the end of the year. After that, I…

“One of the templates here is the 1994 tightening by Alan Greenspan, which I’m sure you all remember to the “T”.  The ’94 tightening episode had the Fed increase the policy rate from what was then considered very low levels to about 300 basis points in a year and then in 1995, the second half…

Transcript not available (link to interview provided). https://www.ubs.com/global/en/investment-bank/knowledge-network/commentary/2022/philip-lowe.html

“I strongly supported the FOMC’s decision last week, and I expect to support additional rate increases until we see significant progress toward bringing inflation down. Based on current inflation readings, I expect that an additional rate increase of 75 basis points will be appropriate at our next meeting as well as increases of at least…

“In a nutshell, inflation is clearly much too high and monetary policy must be repositioned to bring aggregate demand and aggregate supply into balance. I support the quick removal of monetary accommodation that the Federal Open Market Committee (FOMC) has undertaken, increasing the federal funds rate 150 basis points since March and beginning to reduce…