Speeches, Interviews, Essays

Fed Funds Interview Question: Are you still thinking one and done when it comes to a May interest rate increase? “One, for sure, that’s my baseline for this year. I’ve been at this point for quite some time. The economy still has a lot of momentum and is performing quite strongly and inflation remains too…

Q&A Segment – Treasury is the Lead on CBDC “So the US Treasury has been leading a working group to help to further the conversation among the other parts of the administration to have conversations about this. But as I mentioned in my speech, we are very committed to ensuring that we have clear authority…

Video of the Q&A is not yet available. — Overview — In an audience discussion at the Richmond Association for Business Economics on Monday (April 17th), Richmond Fed President Tom Barkin said that he wants to see more evidence that U.S. inflation is settling back to the Federal Reserve’s 2 percent target, and that he’s…

Fed Funds “So Fed’s got a job to maximize employment and stabilize prices, and Fed’s going to do that job. If the credit conditions are doing that job for it, you want to be mindful of it and not be too aggressive.” “We still got several weeks before the FOMC meeting, so I don’t want…

Monetary Policy/Economy were not talked about in this speech. — “In my view, right-sizing regulatory requirements, improving transparency, and supporting regulatory approaches that support new banks are important tools to promote healthy competition and reduce unintended consequences. We need a viable pipeline for the creation of new banks in the United States, and there are…

Select quotes from the Reuters article. Fed Funds Recent inflation data, “are consistent with us moving one more time … We’ve got a lot of momentum suggesting that we’re on the path to 2%.” “There’s more to do. I think the next step is going to be to figure out how much more.”

Q&A Segment — Fed Funds “Right. So up until March 10th when SVB failed, the data that was coming in January and February was just extremely hot. The economy was not showing any signs of slowing down. So at that time, I thought that our terminal interest rate, where we might think about stopping, was…

Inflation “Well, I certainly think we’re past peak on inflation, but we still have a ways to go. And shelter, you mentioned, it came in at 0.6, which if you multiply by 12 is over 7% year after year. Core services came in at 0.4, which if you multiply that by 12 is about five.…

Q&A Segment — Inflation “In March, which was the last time we did that, you saw inflation in that number, the median inflation forecast still being above 3%, which is my own forecast. It’ll be a little bit above three.” Fed Funds “Now that that job is done, that phase one is complete, now we…

Monetary Policy/Economy were not talked about in this speech. “One way that I like to frame this challenge is by comparing it to cultivation of employers. Small towns will need to recruit talent the way they recruit companies, which means pursuing four strategies.” “First, just as prospective employers need to hear a compelling pitch, so…