Speech

The current state of the economy and a look to the future (with reference to William 'Sidestroke' Miles, W. Somerset Maugham, Don Ameche and Kenneth Arrow)

Abstract: Remarks before the Austin Headliners Club, Austin, Texas, November 10, 2009 ; \"The Federal Reserve has done what it can to prevent Depression 2.0 and the deflation that one would have expected might accompany economic collapse. It will take some time, in my opinion, to get back on a steady pathway to a pace of growth that will result in significant job creation. We are in for a long slog. We had a snapback in growth in the third quarter and can expect that will continue in the current quarter. But looking into 2010 and perhaps to 2011, the most likely outcome is for growth to be suboptimal, unemployment to remain a vexing problem and inflation to remain subdued.\">

Keywords: economic conditions - United States; Recessions; Monetary policy; Economic forecasting;

Bibliographic Information

Provider: Federal Reserve Bank of Dallas

Part of Series: Speeches and Essays

Publication Date: 2009

Number: 3