I wouldn't be surprised to see core PCE inflation actually fall a bit over the next two years |
I wouldn't say we're completely out of the woods just yet. Indeed there are some issues that have the potential to be troublesome going forward. |
Indeed, only 10 percent of American workers are in manufacturing, which is arguably the sector most exposed to foreign competition. |
It thus made sense to me to continue the gradual removal of policy accommodation |
It's purely a personal reason, |
One option that is clearly not on the table is allowing an unacceptable rise in inflation, |
Our approach during this phase must be particularly dependent on information from incoming data, |
Prospects for growth in the year ahead are solid at the national level, and of course, this can only be good news for the Bay Area and California as well. The U.S. economy has shown remarkable resilience in the face of some severe shocks -- in particular, the surge in energy prices that began a couple of years ago and the devastation wrought by the twin hurricanes last summer. |
suggests that the economy has been remarkably resilient and apt to remain on a solid track. |
The Fed has and must have a commitment to price stability, |
The Fed has and must have a commitment to price stability, ... The uncertainties on the upside (for inflation) have only gotten bigger since Katrina slammed into the Gulf Coast. |
The Fed has and must have a commitment to price stability. The uncertainties on the upside (for inflation) have only gotten bigger since Katrina slammed into the Gulf Coast, |
The Federal Reserve must deliver -- again and again -- on its commitment to price stability, |
The growing capacity of foreign countries to supply goods and services to the U.S. market has impacted the structure of wages and the bargaining power of workers. |
The uncertainties on the upside (for inflation) have only gotten bigger since Katrina slammed into the Gulf Coast. |