Perspectives on the U.S. Economic Outlook

Abstract: My view is that the economy is currently in a good place. Labor markets are strong, inflation is moving to target, and growth is likely to be somewhat above potential. Particularly given the recent cuts in the federal funds rate, and the fact that monetary actions take effect with some lag, I would say that this is a good time to patiently assess the economy. In the short run, I do not see a need for additional policy easing unless there is a material change to the forecast.

Keywords: global economy; inflation; inverted yield curve; U.S. economic outlook; monetary policy easing; risks to the outlook; consumer spending; PCE inflation;

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Bibliographic Information

Provider: Federal Reserve Bank of Boston

Part of Series: Speech

Publication Date: 2019-12-17