Roadblocks to recovery (with apologies to W. H. Auden and Gershon Bleichroder)
"While it appears urgent, if not agreeable, to use massive public spending to stimulate an economy under duress, an economy cannot sustain long-term growth under the weight of significant fiscal burdens." ; Remarks before the World Affairs Council of Dallas/Fort Worth, Dallas, Texas, February 10, 2010.
Review, reflect and deflect (with reference to the Texas ratio, 'super-spreaders' and three great newspapers)
Remarks before the Independent Bankers Association of Texas Annual Convention, San Antonio, Texas, September 23, 2013 ; "Doing nothing at this [FOMC] meeting would increase uncertainty about the future conduct of policy and call the credibility of our communications into question."
Fiscal issues: from here to eternity (with apologies to Burt Lancaster, Deborah Kerr and Donna Reed)
Remarks before the Equipment Leasing and Finance Association Financial Institutions Conference, Irving, Texas, April 16, 2007 ; "Yes, we remain the biggest player on the global stage, but if we fail to get our fiscal house in order, we could bequeath our descendants unconscionable debt and slow the global economy to boot. Is that to be our legacy?"
The Neutral Rate of Interest
An essay by Federal Reserve Bank of Dallas President Robert S. Kaplan from October 24, 2018.
A perspective on the U.S. Economy and monetary policy (with reference to the music of Richard Wagner and Gangsta Rap)
Remarks before New Mexico State University's Spring 2011 Domenici Institute Forum, Las Cruces, New Mexico, May 4, 2011 ; I will keep my comments as brief as possible this afternoon so as to leave ample time for Q&A. I want to first provide the prcis of the analysis of the nation?s economy that I presented to the FOMC (Federal Open Market Committee) last week on behalf of the 27 million citizens of the 11th District of the Federal Reserve System, including the citizens of Las Cruces and southern New Mexico. Second, I will discuss inflation as we see it at the Dallas Fed. But before getting ...
Comments to the Harvard Club of New York City on monetary policy (with reference to Tommy Tune, Nicole Parent, the FOMC, Velcro, drunken sailors and Congress)
Remarks before the Harvard Club of New York City, New York, N.Y., September 19, 2012 ; "One of the most important lessons learned during the economic recovery is that there is a limit to what monetary policy alone can achieve. The responsibility for stimulating economic growth must be shared with fiscal policy."
A perspective on China
"In contemplating China, we need to look past carefully crafted images and deepen our understanding of her national interest. Failure to do so will be perilous." ; Remarks to a Working Dinner Sponsored by the Progress & Freedom Foundation, Aspen, Colorado, August 18, 2008.
Forward guidance (with reference to Monty Python, Odysseus, Apollo, Paul Fisher, Deng Xiaoping and Mario Draghi's Old Man)
Those who think we can be more specific in stating our intentions and broadcasting our every next move with complete certainty are, in my opinion, clinging to the myth that economics is a hard science and monetary policy a precise scientific procedure rather than the applied best judgment of cool-headed, unemotional decision-makers.
Adios \"Texas Ratio\" (with an unauthorized rewrite of George Strait's most memorable song and a tribute to Bob Hankins)
Remarks at the Texas Bankers Association's 128th Annual Convention & Exposition, Fort Worth, TX, May 11, 2012 ; "We were simply rewriting the words to George Strait's song, "All My Exes Live in Texas." It's not just ex-wives, but ex-businesses, ex-employers, ex-taxpayers and ex-voters of Michigan and California (and New York and other areas of the country) who are pulling up stakes and coming to live a new life and thrive in Texas."
An Assessment of Economic Conditions and the Stance of Monetary Policy
An essay by Robert S. Kaplan, President and CEO of the Federal Reserve Bank of Dallas.