Views on the Economy and Monetary Policy: Government Affairs Breakfast Series, Dayton Area Chamber of Commerce, Dayton, OH

Loretta Mester

No 93, Speech from Federal Reserve Bank of Cleveland

Abstract: Today, I will provide my assessment of economic developments, and my outlook for the economy and monetary policy. The task before Fed policymakers is to calibrate monetary policy to this healthy economy so that our congressionally mandated long-run goals of maximum employment and price stability are met. This means making sure we don?t get behind the curve given the economy?s strength but also making sure we don?t overreact to the positive outlook. To my mind, that means if economic conditions evolve as expected, we?ll need to make some further increases in interest rates this year and next year, at a pace similar to last year?s. I think this gradual approach is the best strategy for sustaining the expansion and balancing the risks to our dual-mandate goals.

Keywords: Monetary Policy; Economic Growth; Labor Markets; Inflation; Fiscal Policy (search for similar items in EconPapers)
Pages: 12 pages
Date: 2018-02-13
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