Search Results
Speech
Emerging from recession: Implications for growth, inflation, and monetary policy, New York, New York, October 1, 2009
In a speech in New York City, Cleveland Federal Reserve Bank President Sandra Pianalto comments on current economic conditions, explains why she thinks the country's economic recovery will be gradual and bumpy, and gives her thoughts on what this gradual path to recovery may mean for inflation and monetary policy.
Speech
Longer-Run Trends and the U.S. Economy
Current trends point to slow long-run growth for the U.S. economy. But steps can be taken to address some of the factors underlying these trends in order to improve the economic health of individuals and communities and to maintain and enhance our future standard of living. Government policies, if they are well-designed and focused on spurring productive investments in human and physical capital, R&D, and innovation, can lead to higher productivity growth and higher longer-run growth. Ensuring a resilient financial system, through appropriate regulation and supervision that keeps up with ...
Speech
Fintech, Bigtech, and Financial Inclusion
Since the beginning of this conference series, the discussions have consistently been very topical, and the agenda for the next two days does not disappoint on that score. The conference will cover many of the hot issues confronting practitioners, academics, and policymakers as financial system innovation proceeds at a rapid pace. Today I will discuss the implications of digitalization for financial inclusion and some steps that need to be taken to ensure that digitalization helps to foster inclusion rather than promote exclusion. The views I will present today are my own and not necessarily ...
Speech
The Economy and Monetary Policy in Our Challenging Times
I want to acknowledge the important role that the participants in this conference play in our economy and in society. In recent years, some have questioned whether a liberal arts education offers the same value as it once did, and point to other types of programs that, in their view, better prepare students for the job market. I take the opposite view: to me the value of a liberal arts education has never been clearer. The current pandemic underscores the fact that the future is uncertain. A year ago, I certainly wasn’t imagining we would be in the place we find ourselves today. If we want ...
Speech
Toward a More Inclusive Labor Market and Stronger Economy
It is now clear that the adverse effects of the pandemic have not been evenly distributed and there are wide disparities in the recovery across business sectors, geographic areas of the country, and demographic groups. The burdens of the pandemic have been borne by many of the most vulnerable in our economy: lower-income and minority workers and communities; those who do not have the opportunity to work from home; those who don’t have access to reliable telecommunications and internet services or to adequate healthcare; and the smallest of small businesses. Since last spring, Blacks and ...
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
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
When the small stuff is anything but small, a speech presented to the Dayton Chamber of Commerce Governmental Affairs Breakfast, Dayton, OH, February 25, 2010
Federal Reserve Bank of Cleveland President and CEO Sandra Pianalto told those attending her speech today to the Dayton Chamber of Commerce that a healthy small business sector is critical to the nation's economic recovery. In her remarks, she also discussed the challenges small businesses face in getting loans, unemployment, inflation, unwinding the Fed's balance sheet, and why the country's economic recovery "doesn't really feel much like one."
Speech
Issues for U.S. Monetary Policy; Global Interdependence Center Central Banking Series with Banque de France, Paris, France
Three years ago when I spoke here, I reviewed the tools that monetary policymakers had put in place to address the financial crisis and Great Recession. I discussed the Federal Reserve?s plans for normalizing policy and some of the challenges we would face as we transitioned from extraordinary economic and policy times back to ordinary times. Today, the environment has changed, but policymakers, as always, continue to face challenges in determining the most effective policies within the environment. So today, I?d like to carry on the theme and talk about current and future issues that Fed ...