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Monetary policy in a low inflation and low unemployment economy: remarks at the Economic Club of New York, New York, New York, May 21, 2019
Boston Fed president Eric Rosengren explored the current economic environment, characterized by low unemployment and lower-than-target inflation ? which are somewhat opposing signals for monetary policymakers.
Consumers’ Perspectives on the Recent Movements in Inflation
Inflation in the U.S. has experienced unusually large movements in the last few years, starting with a steep rise between the spring of 2021 and June 2022, followed by a relatively rapid decline over the past twelve months. This marks a stark departure from an extended period of low and stable inflation. Economists and policymakers have expressed differing views about which factors contributed to these large movements (as reported in the media here, here, here, and here), leading to fierce debates in policy circles, academic journals, and the press. We know little, however, about the ...