Boston Fed President
- There is no perfect price index
- Changes in technology is a big challenge to capture
- Import not to allow inflation expectations to slip
- Tight labor market to affect inflation at some point
- Increase in US corporate debt is worrisome
- People should be comfortable with more inflation than the US has seen in the last 15 – 20 years
- Fed's balance sheet is very close to being normalized
- Balance sheet is being normalized at a much higher level than before the 2008 financial crisis
- Rise in US corporate debt could increase severity and duration of recession
- Monetary policy is not doing much to lower rates at the short or long end of the yield curve
- I'm not a big fan of negative interest rates
- it may be hard to distinguish one time price change of tariffs requiring no response from persistently higher inflation in a tight labor market
- an issue with trade should not require a looser monetary policy
- we are getting much closer to where the balance sheet might need to expand
