Even without an increase in inflation expectations, it will take appropriate monetary policy to keep inflation well contained, |
For me, appropriate policy means that we continue to reduce accommodation and return to a neutral federal funds rate, |
History will show Alan Greenspan did an outstanding job. He's just steeped in economics. He knows the data better than probably just about anyone else I know. |
I am starting to hear more anecdotes about softening in housing markets, and seeing more reports that home prices are growing at a slower rate, |
I don't see any sign of housing activity having a significant slowdown on a national basis going forward, |
I don't think anyone can answer whether the Fed is going to have to tighten beyond neutral, ... You have to be looking at the economy going forward and that changes as additional data comes in. |
I was surprised they wanted to talk about education. |
I'm concerned about core inflation running at the upper end of the range that I feel is consistent with price stability. |
If inflation expectations did become unhinged, this might require a stronger response, |
If inflation or inflation expectations were to rise persistently, then policy clearly would have to be tightened further, |
Inflation currently is near the upper end of the range that I feel is consistent with price stability. As such, I believe monetary policy must be vigilant. |
is about as low as the unemployment rate can go on a sustained basis. |
It is appropriate to maintain an accommodative monetary policy stance, in order to provide some insurance against unwelcome disinflation, |
It will take appropriate monetary policy to keep inflation and inflation expectations well contained. For me, at this time, such policy likely entails further removal of policy accommodation, |
Participants in the markets are working actively to figure out alternative distribution routes and alternative transportation systems to move their products, |