Speeches, Interviews, Essays

“Well, because this is going to be a journey. Wait, we’re in zero or we’re 25 basis points off. And let me just say, you don’t want to estimate the SEP for neutral nominal federal funds rate is two and a quarter to two and a half. We got 200 basis points just to get…

“The first step would be sort of you know, some turn around, further evidence of improvement along the lines of what you suggested, hinted at in the most recent inflation report, way to early, but if it did … the second stage would be dealing with that 3.0% and 3.5% (inflation at YE), by that…

“Yeah, I gave a speech, for those that are interested, at University of Missouri here about 10 days ago where I talked about a 3.5% being a minimum about where you’d want to be based on simple Taylor Rule type calculations. But the reason I say it’s a minimum is that I gave a lot…

Transcript not available (link to interview provided). https://www.bloomberg.com/news/videos/2022-04-18/fed-s-bullard-inflation-is-far-too-high-for-comfort-video

“We want to get to neutral expeditiously … we should try to get above neutral as early as the 3rd quarter and try to put further downward pressure on inflation at that point.” “More than 50 basis points is not base case at this point, I would point out that the 1994 cycle, where we…

“Generally, yes. I would say that the economy at this point does seem to be at a bit of an inflection point, and that makes sense with evermore widespread vaccinations with strong fiscal policy with continued support from monetary policy. You see the economy opening, you can see ridership on airplanes going up and people…

“In summary, the Federal Reserve has been supporting workforce development efforts for more than four decades by providing research and data, doing outreach to all the stakeholders with an interest in workforce development, and convening these stakeholders so that they can share their perspectives on what is needed to ensure a highly skilled workforce. Through…

“Well, I don’t think we’re going to do our policy adjustment in a measured, slow pace for sure. I do think, with very high inflation, we need to really focus on bringing inflation down to our 2% longer run goal and to do that over the next few years. So that is the number one…

“Inflation is widespread. It is showing up throughout a vast array of goods that comprise the CPI “basket.” Both goods and services are experiencing inflation.” “This is why last month we announced we were raising the federal funds rate for the first time since 2018. We raised our target by 25 basis points, and I…

“Well, I think the data has come in exactly to support that type of policy action if the committee chooses to do so. It gives us the basis for doing it. I have said before, I prefer a front loading approach. So a 50 basis point hike in May would be consistent with that and…