The Economy, Inflation, and Forbearance

Patrick T. Harker

Speech from Federal Reserve Bank of Philadelphia

Abstract: President Harker delivered a virtual speech to the Women in Housing & Finance on his economic outlook. “At the Fed, we’re planning to keep the federal funds rate low for long, but it may be time to at least think about thinking about tapering our $120 billion in monthly Treasury bond and mortgage-backed securities purchases,” said Harker. “This is not something we are going to do suddenly, though. We need to follow the playbook we had after the Great Recession; that is, start to taper the bond purchases slowly. We will remove accommodation carefully and methodically as the economy continues to strengthen.” Media coverage of his remarks can be found below.

Pages: 6
Date: 2021-06-02
New Economics Papers: this item is included in nep-mac
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