Longer-term interest rates are a good deal higher now, driven largely by real rates given the stability of longer-term inflation expectations.
We may be entering a period of more frequent, and potentially more persistent, supply shocks — a difficult challenge for the economy and for...
It’s not a situation where we can be pre-emptive, because we actually don’t know what the right response to the data will be until we see mo...
if the large increases in tariffs that have been announced are sustained, they're likely to generate a rise in inflation, a slowdown in econ...
[It] doesn’t affect doing our job at all. We're always going to consider only the economic data, the outlook, the balance of risks, and that...
We've judged that the risk to higher inflation and unemployment has risen
This would be a complicated and challenging judgment we would have to make
We don't have to be in a hurry. The economy is resilient and doing fairly well.
the Fed would assess which goal – stable prices or maximum employment – is furthest away and prioritize achieving it.
the Fed’s obligation is to keep longer-term inflation expectations anchored to make certain that a one time increase in the price level (fro...
very long terms.