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Federal Reserve Bank of Cleveland
Speech
The Economic Outlook and Some Longer-Run Issues 05-18-2017 Economic Club of Minnesota, Minneapolis, MN
Loretta J. Mester
Abstract

Today, I will discuss my current outlook for the economy and my views on monetary policy. I will also talk about some longer-run issues facing the economy. Of course, these are my own views and not necessarily those of the Federal Reserve System or my colleagues on the Federal Open Market Committee. The economic expansion will celebrate its eighth birthday next month – that’s 56 in dog years – which is long by historical standards. Of course, expansions don’t die from old age and there is no reason to think that this one cannot continue. In fact, one of my focuses as a monetary policymaker is to set policy to meet and maintain our dual mandate goals of price stability and maximum employment. Doing so will help promote continued expansion.


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Loretta J. Mester, The Economic Outlook and Some Longer-Run Issues 05-18-2017 Economic Club of Minnesota, Minneapolis, MN, Federal Reserve Bank of Cleveland, Speech 83, 18 May 2017.
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Keywords: Economic growth; Great Recession; Fed balance sheet
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