Speeches, Interviews, Essays

“Against the backdrop of the rapidly evolving economic environment, our policy has been adapting, and it will continue to do so. At today’s meeting, the Committee raised the target range for the federal funds rate by ½ percentage point and stated that it “anticipates that ongoing increases in the target range will be appropriate.” We…

Transcript not available (link to interview provided). https://www.cnbc.com/2022/04/22/feds-mester-casts-doubt-on-the-need-for-shock-interest-rate-hikes-ahead.html?&qsearchterm=mester

“Long periods of high inflation, even if it is projected to come down, can seep into expectations, leading people to anticipate further price increases. This is especially salient now, with prices for food and gas making headlines. Research tells us that these prices heavily influence consumers’ beliefs about future inflation.” “The longer realized inflation remains…

“Well, so first of all, you asked about a soft landing. Basically that’s our goal. Our goal is to use our tools to get demand and supplied back in sync, so that inflation moves down and do so without a slowdown that amounts to a recession. That’s our goal and I don’t think you’ll hear…

Transcript not available (link to interview provided). https://finance.yahoo.com/news/san-francisco-fed-president-mary-daly-yahoo-finance-transcript-april-2022-201253030.html

“The 1983 FOMC, which was also looking at a core PCE inflation rate similar to today’s, had a different approach to monetary policy and spoke more about monetary factors affecting inflation. The FOMC kept the policy rate relatively high in the face of declining inflation. The associated ex-post real interest rate was relatively high. The…

“So we’re not far from neutral. We’re probably not at neutral at that point. And now more recently more of my colleagues have said, and I’ve said I’m open to doing 50 basis point increases in order to front load this a little bit. I like to talk in terms of quarter point increments because…

“Technology is always changing, and it is very clear that financial intermediation will be different in the future than it is today. But exactly how this technology will be dispersed and how long that process will take remain uncertain. Nevertheless, we at the Federal Reserve have to track developments in this area closely so that…

Transcript not available (link to interview provided). https://www.bloomberg.com/news/videos/2022-05-09/fed-s-bostic-on-rates-path-market-volatility-economy-video

“You could imagine in a best case scenario, supply chains get better. COVID fades into the background. Then inflation will come down, some of it, on its own. And then we at the Federal Reserve will have to do less to get back down to our 2% target. But if Omicron continues to spread in…