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Exploring current economic conditions and the implications for monetary policy: remarks at the National Association for Business Economics (NABE) 60th Annual Meeting, Boston, Massachusetts, October 1, 2018
While inflation remains well contained to date, pushing the economy too hard risks inflationary concerns or financial-stability risks. Either of these outcomes might necessitate a more forceful monetary policy response. While a more forceful policy might be appropriate under such conditions, it is not a risk-free strategy and could put at risk the continued expansion. The history of rapid rate increases in the U.S. suggests that such a risk is real, and as a result my preference for a strategy that allows a continued, but gradual, pace of monetary tightening.
Exploring current economic conditions and the implications for monetary policy: remarks at 1Berkshire Economic Outlook Luncheon, Dalton, Massachusetts, October 26, 2018
Topics covered include: recent monetary policy actions; outlook -- continued robust growth; clear risks to the forecast; how should policy respond to strong base forecast but rising risks?; inflation for goods and services; exports are important and uncertain.