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Speech
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.
Speech
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 ...
Speech
Comments on “The Equilibrium Real Funds Rate: Past, Present, and Future.”
It is a real pleasure for me to participate in this year?s Monetary Policy Forum. As an attendee of this event for the past several years, I have been very impressed with the organizers? ability to choose a year in advance the topic that turns out to be the issue policymakers are grappling with at the time the forum rolls around. Once again, the organizers have been able to do this, with the important paper by Jim Hamilton, Ethan Harris, Jan Hatzius, and Ken West. Another example of the value of being forward looking when it comes to monetary policy! In the time I have, I will discuss some of ...
Speech
The Outlook for the Economy and Bank Regulation
Good afternoon. I thank the Ohio Bankers League for inviting me to participate in this year?s economic summit. It is a pleasure to have the opportunity to speak with so many leaders from the state?s banking community. I?m glad to be here with my colleague Steve Jenkins, whom many of you know well and who will be speaking later today. It is also great to be in Columbus, where it seems as if the euphoria from The Ohio State University?s national championship isn?t going to wear off any time soon. Today, I will share my views on the outlook for the U.S. economy and monetary policy in 2015. Given ...
Speech
The challenge of concentrated poverty, presentation to the Community Development Policy Summit, Cleveland, Ohio, June 22, 2006
We are here today and tomorrow to examine concentrated poverty - that is, poverty that affects more than 40 percent of people living in a particular region or city - through the lens of community development. I think we can all agree that community reinvestment initiatives have done a great deal to help low- to moderate-income families over the past generation. But we know that there is still a long way to go.
Speech
The Federal Reserve System and Community Development: The Why, The How, and The What 2017 Policy Summit on Housing, Human Capital, and Inequality, Cleveland, OH
Over the past 14 years, the Policy Summit has brought together community development practitioners, researchers, funders, policymakers, and others interested in strengthening our communities so that all people have the opportunity to productively engage in our economy and to share in its benefits. As is clear from the many conversations we?ve had over the past two days ? and over the past 14 years of this summit ? there are no easy answers. But there are some answers. I will touch on ?the why, the how, and the what? of this work: why we at the Fed see our community development efforts as ...
Speech
Financial Stability Framework; Panel Remarks for the International Banking, Economics, and Finance Association and American Economic Association Session, \\"Integrating Financial Stability with Monetary Policy\\", Allied Social Science Associations Annual Meeting, 01-06-2018; Philadelphia, PA
I will discuss four topics: the relationship between financial stability and monetary policy, the Federal Reserve?s current framework for assessing and monitoring financial stability risks, an exercise aimed to assess possible policy responses to such risk, and some of the governance issues we face in addressing these risks.
Speech
Views on the Economy and Monetary Policy Loretta J. Mester; The Economic Club of Pittsburgh, the World Affairs Council of Pittsburgh, CFA Society Pittsburgh, and the Pittsburgh Association for Financial Professionals, Pittsburgh, PA
My talk today also lets me explain my views on monetary policy. Congress has given the Fed its monetary policy goals of maximum employment and price stability. At the same time, Congress has also wisely granted the Fed independence in setting monetary policy in pursuit of those goals, meaning that policy decisions are insulated from short-run political considerations. But accountability must go hand in hand with that independence. I call this ?accountable independence.? In order for the public and Congress to have the information they need to hold the Fed accountable for monetary policy ...