Steering Toward Sustainable Growth

Daly, Mary C.

Journal Article

Steering Toward Sustainable Growth

Abstract: The inflation outlook combined with a strong labor market leave no doubt that further monetary policy tightening is appropriate. The question is, how much and how quickly? The appropriate path of policy confronts the economic headwinds immediately ahead while also laying the groundwork for the economy we want in the future. The following is adapted from remarks by the president of the Federal Reserve Bank of San Francisco to the Center for Business and Economic Research, at the University of Nevada, Las Vegas, on April 20.

Keywords: covid19; pandemic; inflation; monetary policy; federal funds rates;