Speeches, Interviews, Essays

“We’ve been surprised to the upside on inflation. This is a lot of inflation in the US economy. 7.5% on the headline CPI. These are numbers that Alan Greenspan never saw, that haven’t occurred in 40 years. So our credibility is on the line here. And we do have to react to data. However, I…

“So I look at the data and I see that it is obvious that we need to pull some of the accommodation out of the economy. But history tells us with Fed policy that abrupt and aggressive action can actually have a destabilizing effect on the very growth and price stability we’re trying to achieve.…

“Observed debt-to-GDP ratios in the U.S., Japan and some large European economies clearly exceed recommendations given a generation ago in the Maastricht Treaty.” “This is often considered unsustainable, yet the demand for this debt remains robust.” “We explore a resolution to this puzzle in a stylized model in which the equilibrium level of the debt-to-GDP…

“So where are we today? We’re 20 months into the fastest recovery in any of our memories. The economy is today well above pre-pandemic levels, and will likely return past the pre-COVID trend line this quarter. Underlying demand looks to remain robust, fueled by healthy personal and business balance sheets, and the need to replenish…

Transcript not available (link to interview provided). https://www.cnbc.com/video/2022/02/09/atlanta-fed-president-on-interest-rates-every-option-is-on-the-table.html

“Yeah. You have to be forward looking. Monetary policy affects the economy with the lag, long and variable lags. You don’t know exactly when. But we should be able to start seeing the monthly increases in inflation moving down. Some of that will be dependent on monetary policy, some of it will be because supply…

“The Fed’s main policy tool is the federal funds rate. Since March 2020, the FOMC has maintained the target range of the fed funds rate at 0 to 1/4 percent. This January, the Committee announced that it will soon be appropriate to raise the target range. While the Omicron variant may weigh on activity in…

Do you think we, as a general public, have lost our sensitivity to the fact that inflation imposes a cost because we have had decades with such consistently low inflation in the United States? “Yes. My story about what happened is that there’s a heck of a lot of inflation in the ’70s. In that…

“Instead of simply waiting out supply and production problems, many executives are starting to seek new or redundant suppliers. These businesses are changing inventory systems from “just in time” to “just in case,” and taking other steps to insulate themselves from future severe supply disruptions. Undoubtedly, many of these efforts involve tradeoffs between efficient, lean…

Transcript not available (link to interview provided). https://finance.yahoo.com/news/atlanta-fed-president-raphael-bostic-yahoo-finance-transcript-january-2022-201730701.html