A perspective on monetary policy
Sandra Pianalto is the president and chief executive officer of the Federal Reserve Bank of Cleveland. This Commentary contains the text of her remarks to the Forecaster?s Club of New York on April 22, 2004.
Expectations, communications, and monetary policy
Since early 1994, the FOMC has taken many steps toward increasing the amount of information it conveys to the public about its actions. Sandra Pianalto, a Federal Reserve Bank president and FOMC participant, outlines the evolution of increasing transparency in FOMC communications and suggests a way that the process can go further still. This Commentary is taken from Pianalto?s speech to the Money Marketeers in New York City on April 19, 2005.
Construction and monetary policy: a view from the sidelines
This Commentary is adapted from Ms. Pianalto's remarks at the annual forecast dinner of the Home Builders' Association of Greater Akron, January 27, 1999.
Economic recovery and the Fourth District
An examination of the nature of economic recovery, with an analysis of the performance of past employment expansions in the Fourth Federal Reserve District, and discussion of the outlook for autos, steel, and capital goods.
Monetary policy with humility
When the economy slows, monetary policymakers face pressure to deviate from their longer-term goals to address short-term problems. This Commentary argues that the Fed must stay focused on the long term?maintaining the stable purchasing power of the dollar. The Commentary is adapted from a speech delivered by Sandra Pianalto, first vice president of the Federal Reserve Bank of Cleveland, to the Association for Corporate Growth in March 2001.
Monetary policy in an interdependent world
While central bankers must focus on delivering price stability and other mandates in their own countries, they must also monitor international developments closely because national trade and financial markets have become increasingly interconnected. Sandra Pianalto, president and chief executive officer of the Federal Reserve Bank of Cleveland, explores how the globalization of financial markets could affect U.S. monetary policy and explains how a commitment to price stability and policy transparency can help monetary policymakers deal with challenging international developments. A version of ...
Reorganizing the U.S. banking regulatory structure
A discussion of the changes in the structure of the banking system since the 1970s, with an emphasis on the 1984 recommendations of the Task Group on Regulation of Financial Services.
Inflation, inflation expectations, and monetary policy
Careful readers of FOMC communications will note that in addition to talking about actual inflation, the committee often talks about inflation expectations. Sandra Pianalto, the president and chief executive officer of the Federal Reserve Bank of Cleveland, explains the important role that inflation expectations play in the monetary policy process. This Commentary is taken from a speech she delivered to the Copper Development Association?s Global Market Trends Conference on September 8, 2006.
Conference overview and welcoming address
Education and economic development: beginning a dialogue