A credible inflation objective could...enhance the flexibility of monetary policy to respond to the real effects of adverse shocks. |
At this stage, wage and salary growth seems quite well contained, and I see no evidence of feedbacks from energy prices to wage bargaining, |
At this stage, wage and salary growth seems quite well contained, and I see no evidence of feedbacks from energy prices to wage bargaining. |
Certainly, analyses do indicate that house prices are abnormally high --- that there is a 'bubble' element, even accounting for factors that would support high house prices, such as low mortgage interest rates. So a reversal is certainly a possibility. |
Estimates of the extent of spending are escalating, and the recovery and bounce-back, fueled by massive fiscal stimulus, could propel the U.S. economy on an unsustainable upward trajectory, |
has little scope to cushion the immediate economic fallout from such a severe and sudden blow to a region. |
Higher oil prices may be partly passed through to core inflation at least for a time, |
I consider it reasonable to put the current neutral rate in a range of 3.5 percent to 5.5 percent. |
I consider us to be in a range where further moves depend on how the data transpires, but I don't see weakness out there yet. |
I see no evidence of feedbacks from energy prices to wage bargaining, ... The risk, though, is that, without appropriate policy, we could see a repetition of the '70s-type dynamic. |
I see no evidence of feedbacks from energy prices to wage bargaining, ... The risk, though, is that, without appropriate policy, we could see a repetition of the 70's type dynamic. |
I see no evidence of feedbacks from energy prices to wage bargaining. The risk, though, is that, without appropriate policy, we could see a repetition of the '70s-type dynamic. |
I support the idea of a quantitative objective for price stability. |
I view decisions about the stance of policy going forward as quite data-dependent. On the one hand, I will be alert to any incoming data suggesting that economic growth is less likely to slow to a sustainable pace or that inflation is less likely to remain contained. |
I wouldn't be surprised to see core PCE inflation actually fall a bit over the next two years |