sees US inflation low for some time wage growth is stable accommodative monetary policy seems appropriate expectation is that economy will continue to under run 2% inflation objective is 2% but that’s not a ceiling tapering will be completed by … Continue reading
The pre-crisis definition of ‘snapback’: 5-6% The New Normal definition: 3-4% Other comments from Williams: Sees unemployment at 6% at the end of 2014, 5.5% next year Expects total growth of 2.5% this year
No one told her that once you make the FOMC you can take off the name tag. Or at least take it off when you get up to the podium. Her first speech is streaming live.
Bland. Loretta Mester takes over from Sandra Pianalto on Sunday. Throughout her term Pianalto made very few waves and Mester didn’t make any in her first speech. This is about as far as it waded into monetary policy: “We cannot … Continue reading
The U Mich sentiment data wrapped up the data slate for today but there will be some comments from this gang of three Fed hawks and a dove. Look at that smile on Plosser’s face. Comments from incoming Cleveland Fed … Continue reading
Cleveland Fed President Pianalto is making her final comments before retirement: Must prevent inflation from falling below 2% Fed needs to get ‘on track’ with inflation goal
San Francisco Fed President John Williams says the Fed may need to allow inflation to overshoot for a time in order to reduce the army of people out of work for long periods, he wrote in a report. The idea … Continue reading
Lacker is a hawk from the Richmond Fed and spoke with Bloomberg radio. Inflation has ‘bottomed out’ US ‘back to equilibrium’ in housing markets I find it hard to take hawks seriously who have been so wrong for so long.
Larry Summers is talking about unemployment and automation at the inclusive capitalism conference in London. Here’s a sobering statistic that he had: In 1965 in the US, one in 20 men between 25 and 54 weren’t working; now it is … Continue reading
The discount rate minutes are mostly a symbolic, mini-dissent for regional Fed offices. The hawks from Philly, Kansas City and Dallas once again voted to raise the discount rate to 1% while the nine other regional banks voted to leave … Continue reading