Globalization and monetary policy, speech presented at a Global Interdependence Center (GIC) conference in Paris, France on May 13, 2008
In a speech at a Global Interdependence Center (GIC) conference in Paris, France, Sandra Pianalto, president and CEO, Federal Reserve Bank of Cleveland, explains how global price pressures can increase the complexity of formulating monetary policy.
The Federal Reserve and Monetary Policy Communications: The Tangri Lecture, Rutgers University, New Brunswick, NJ. 01/17/2018
This afternoon I will speak about the structure of the Federal Reserve System and the value of clear monetary policy communications. I?ll summarize some of the improvements the Fed has made to its communications, and then offer my recommendation for potential next steps. Of course, my remarks will reflect my own views and not necessarily those of the Federal Reserve System or my colleagues on the Federal Open Market Committee.
Payments and the Pandemic
It is a great pleasure being with you today as part of the 20th Anniversary Chicago Payments Symposium. Over the last two decades, this symposium has established itself as a valuable forum at which those interested in the payments system can gather to learn and share ideas. In recent years, the symposium has fostered important conversations between industry practitioners and policymakers. Those conversations have helped inform the Federal Reserve System’s initiative to improve and modernize the U.S. payments system. That work is ongoing and has reached important milestones this year, ...
Regulatory reform: lessons from the front line, 19th Annual Hyman P. Minsky Conference on the State of the U. S. and World Economies Organized by the Levy Economic Institute of Bard College, New York, New York, April 14, 2010
In a speech at the Minsky Conference on the State of the U.S. and World Economies, Federal Reserve Bank of Cleveland President and CEO Sandra Pianalto discussed consolidated supervision, an important, but sometimes overlooked, aspect of regulatory reform. She also described the criteria that she thinks should be used to define systemically important institutions and discussed a framework for ensuring financial firms are effectively supervised based on the risk they pose to the financial system. She concluded with an explanation of why it is vitally important for the Federal Reserve to remain ...
The internationalization of national currencies, speech at the Comenius European Banking and Financial Forum, Czech National Bank, Prague, Czech Republic, March 27, 2007
President Pianalto discusses the characteristics of international reserve currencies and the benefits that a country - or a region such as the Eurozone - can enjoy if its currency fulfills that role. She concludes with comments on why global currency competition provides an incentive for central banks to pursue and preserve price stability.
The Outlook for the Economy and Monetary Policy; 02.13.19; University of Kentucky Gatton College of Business and Economics, 2019 Economic Outlook Conference, Lexington, KY
The Cleveland Fed is one of 12 regional Reserve Banks distributed across the country that, along with the Board of Governors in Washington, D.C., comprise the Federal Reserve System. This regional structure helps us to collect information from around the country so that our monetary policy decisions can take into account the diversity of the American economy and its people. I am very grateful for the many contacts throughout our District who generously share with us their insights into business activity, labor markets, and financial conditions. This timely information is collected through our ...
Perspectives on the Economic Outlook and Banking Supervision and Regulation; 2017-08-02; The Community Bankers Association of Ohio Annual Convention, Cincinnati, OH
Today, I enjoy the fruits of the strong relationship that has developed between Ohio bankers and the Cleveland Fed. The bankers who serve on our Community Depository Institutions Advisory Council (CDIAC) and on our board of directors generously provide me with their valuable insights into regional economic and banking conditions. As you all know, community banks play a vital role in the economic health of their communities, providing creditworthy businesses the wherewithal to prosper and households the ability to improve their financial standing and quality of life. Because of their important ...
Consumer Credit: Suggested Directions for Policy-Relevant Research
Good morning. I thank the conference organizers at the Federal Reserve Bank of Philadelphia and the Journal of Economics and Business, in particular, Paul Calem, Julapa Jagtiani, Bill Lang, and Ken Kopecky, for inviting me to participate in this conference on regulating consumer credit. It is a particular pleasure for me to be back at my old haunt, having grown up at the Philly Fed, and seeing the many people I count not only as my friends but also as my teachers, because I?ve learned so much from you over the years. I also want to acknowledge my long association with the Journal of Economics ...
Views on the U.S. Economy and Monetary Policy; 07.02.19 The European Economics and Financial Centre; Distinguished Speaker Seminar, London, UK
It was three years ago, almost to the day, when I was last before you. Since that time, there have been several economic and policy developments in the U.S. that I will update you on today. One thing has not changed: monetary policymakers are operating in a world of economic and geopolitical uncertainties that cloud the outlook. When I was here three years ago, U.K. voters had just decided to exit the European Union, and it was too soon to determine with any precision what the ramifications of that vote would be for the U.K. and global economy. Today, the terms of Brexit remain unresolved ...
The Economic Outlook and Some Longer-Run Issues 05-18-2017 Economic Club of Minnesota, Minneapolis, MN
Today, I will discuss my current outlook for the economy and my views on monetary policy. I will also talk about some longer-run issues facing the economy. Of course, these are my own views and not necessarily those of the Federal Reserve System or my colleagues on the Federal Open Market Committee. The economic expansion will celebrate its eighth birthday next month ? that?s 56 in dog years ? which is long by historical standards. Of course, expansions don?t die from old age and there is no reason to think that this one cannot continue. In fact, one of my focuses as a monetary policymaker is ...