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The COVID-19 Recession in Historical Perspective
How severe is the COVID-19 recession across the globe? An analysis compares GDP growth forecasts for 2020 with historical growth rates for 155 countries.
Newsletter
Shifting Ground: The Changing Landscape in Financial Markets and Technology
The Chicago Fed?s Supervision and Regulation Department and DePaul University?s Center for Financial Services held their ninth annual risk conference on March 29?30, 2016. The conference brought together financial industry professionals, academics, and regulators to discuss the challenges and opportunities posed by the uncertain outlooks for financial markets and geopolitical landscapes across the globe, as well as by the array of innovations from financial technology, or ?fintech,? firms.
Speech
Financial Stability and Regulatory Policy in a Low Interest Rate Environment
I would suggest that the potential costs of the excessive leverage that arise in a low interest rate environment deserve more research and, I suspect, more focused and proactive policy actions.
Speech
Perspectives on the U.S. Economic Outlook
My view is that the economy is currently in a good place. Labor markets are strong, inflation is moving to target, and growth is likely to be somewhat above potential. Particularly given the recent cuts in the federal funds rate, and the fact that monetary actions take effect with some lag, I would say that this is a good time to patiently assess the economy. In the short run, I do not see a need for additional policy easing unless there is a material change to the forecast.
Speech
Exploring Economic Conditions and the Implications for Monetary Policy
Eric Rosengren’s comments were delivered at the Boston Fed’s Annual Regional & Community Bankers Conference, and were a based on a speech he delivered on October 11, 2019.
Speech
Exploring Economic Conditions and the Implications for Monetary Policy
I would note that after two recent rate easings of 25 basis points each, monetary policy is already accommodative. Sustaining growth at potential depends on the U.S. consumer continuing to offset the weakness we are seeing in exports and business fixed investment. To me, it seems appropriate to continue to closely monitor incoming data to determine if the forecast of growth around potential is likely to be achieved, or if the risks I have outlined are indeed materializing.While the risks to the global and U.S. economies remain, there are also risks to easing too aggressively, as I’ve ...
Speech
No Man Is an Island
Remarks at 2019 Asia Economic Policy Conference, Federal Reserve Bank of San Francisco, San Francisco, California.
Speech
The Economy and Monetary Policy at the Global Interdependence Center, Sarasota, FL
I thank David Kotok and his colleagues at the Global Interdependence Center for giving me the opportunity to speak with you this morning about economic developments and monetary policy. I am very happy to be here ? and not just because I left single?digit temperatures in Cleveland. No, it?s because at each GIC program I?ve attended over the years ? and there have been many ? I?ve always walked away with some new insight or perspective with which to view the economy and policy. The GIC?s Central Banking Series is an important forum for discussing economic matters of global interest, and I am ...
Speech
The U.S. economic outlook and the implications for monetary policy
Remarks at Bank Indonesia–Federal Reserve Bank of New York Joint International Seminar, Bali Indonesia.
Speech
On Balance: All Things Considered on the Road to Normal
Philadelphia Fed President Patrick Harker discussed the U.S. and global economies and the Fed?s monetary policy outlook at the Official Monetary and Financial Institutions Ninth Economists? Meeting in Frankfurt, Germany. Regarding unwinding the balance sheet, Harker said a "slow and steady approach" that leads to a gradual decrease in average reserves is ?not only the safer option, it has the additional advantage of reducing uncertainty. ..."