Speech

Remarks on the FOMC’s Monetary Policy Framework; 02-23-2018: Panel Remarks at the 2018 U.S. Monetary Policy Forum, Sponsored by the Initiative on Global Markets at the University of Chicago Booth School of Business, New York, NY


Abstract: I will focus my brief remarks on the FOMC?s monetary policy framework for determining the appropriate policy to promote our longer-run monetary policy goals. Recently, some economists and policymakers have recommended that the FOMC evaluate its monetary policy framework. Indeed, a careful reader of the January FOMC minutes, released earlier this week, might have noticed that a few participants suggested such an examination. The FOMC has not indicated whether or not it will undertake such a review. But let me provide my own thoughts on the rationale for undertaking an assessment, what it might cover, and the timing, that is, the why, what, and when of a review. I?ll also briefly discuss some alternative frameworks that should be part of the assessment.

Keywords: Monetary Policy; Inflation; ;

Access Documents

Authors

Bibliographic Information

Provider: Federal Reserve Bank of Cleveland

Part of Series: Speech

Publication Date: 2018-02-23

Number: 94