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Federal Reserve Bank of San Francisco
FRBSF Economic Letter
Monetary Policy and the Economic Outlook: A Fine Balancing Act
John C. Williams
Abstract

The economy is in a good place. Unemployment is low and confidence is high. The challenges to address are good ones: keeping the expansion going, bringing inflation up to its 2% target, and using this period to normalize monetary policy in general and interest rates in particular. The years ahead will require a balanced approach, guided by the data. The following is adapted from remarks by the president and CEO of the Federal Reserve Bank of San Francisco at the 54th Annual Economic Forecast, Phoenix, AZ, on November 29.


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John C. Williams, "Monetary Policy and the Economic Outlook: A Fine Balancing Act" , Federal Reserve Bank of San Francisco, FRBSF Economic Letter, number 36, 2017.
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