Both survey data and the market prices of inflation-protected Treasury securities tell us that the public expects inflation to continue to be contained. I am confident that we at the Fed have the knowledge and the will to validate those expectations. |
Growth is proceeding on a solid pace this year, and inflation is low and stable. |
Growth is proceeding on a solid pace this year, and inflation is low and stable. Plausible rates of moderation in housing activity will not pose a problem for overall activity this year or next. |
I expect investment spending to be quite robust this year. |
I think my concern about inflation is distinctly higher now |
I'm going to be focused on core inflation numbers pretty heavily for the next couple months. The fourth- quarter core inflation number really caught my eye. |
It is clear we're not done removing accommodation. |
It is too early to say when we're going to stop, |
It looks like we're weathering the energy shocks pretty well, but it is too soon to declare us out of the woods, |
It looks like we're weathering the energy shocks pretty well, but it is too soon to declare us out of the woods. |
Monetary policy should respond to energy shocks by remaining focused on price stability. I think it is too soon to declare that 'pass-through risk' is entirely behind us. |
Moreover, I don't see diminished housing-price appreciation as a major problem for consumer spending, since again, the primary determinant of spending is income, and we see solid and improving prospects for real incomes for the nation as a whole. |
On the one hand we've got some good core numbers in the last few months, but on the other hand, we're facing the prospect now of the possibility of the energy price surge passing into core prices, and we don't want to see that. |
rebounds pretty strongly from this sort of event. After several quarters of rebuilding, our productive capacity should be back to about where it would have been otherwise. |
The most important about thing transparency is the clarity of the public's understanding of our intentions. |