Speech

An update on the status of the economy and its implications for monetary policy

Abstract: Remarks for the Annual Joint Luncheon of Commercial Real Estate Women Dallas and North Texas Certified Commercial Investment Members, Dallas, Texas, August 16, 2006 ; \"In determining future policy, my colleagues and I will watch and listen and \"taste\" the indicators carefully as they come in. And, as we said at the conclusion of our last FOMC meeting, we will act accordingly. If anybody tells you with absolute conviction that the Fed is done raising interest rates or with equal conviction that they have only paused and will raise rates more starting in September or October, remind yourself that at best--and I?m being generous here--they are only guessing.\"

Keywords: Federal Open Market Committee; Housing; real estate investments; Monetary policy; economic conditions - United States;

Bibliographic Information

Provider: Federal Reserve Bank of Dallas

Part of Series: Speeches and Essays

Publication Date: 2006

Number: 68