The outlook and monetary policy challenges

John Williams

FRBSF Economic Letter, 2012, issue july23

Abstract: The pace of economic growth has been frustratingly slow and the recovery has lost momentum in recent months. The economy is weighed down by the ongoing European sovereign debt crisis and fiscal tightening in our own country. In these circumstances, it is essential that the Federal Reserve provide sufficient monetary accommodation to keep our economy moving towards the central bank?s maximum employment and price stability mandates. This Letter is adapted from a presentation by the president and CEO of the Federal Reserve Bank of San Francisco to the Idaho, Nevada, and Oregon Bankers Associations on July 9, 2012.

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