The economic outlook and Federal Reserve policy

John Williams

FRBSF Economic Letter, 2012, issue oct1

Abstract: Progress reducing unemployment has nearly stalled, while annual inflation has fallen below the Federal Reserve?s 2% target. To move toward maximum employment and price stability, the Fed recently announced plans to purchase more mortgage-backed securities and extend its commitment to keep its benchmark interest rate exceptionally low through mid-2015. Thanks partly to these actions, the recovery should gain momentum. The following is adapted from a presentation by the president and CEO of the Federal Reserve Bank of San Francisco at the City Club of San Francisco on September 24, 2012.

Keywords: economic conditions - United States; Monetary policy (search for similar items in EconPapers)
Date: 2012
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