The economy and Fed policy: follow the demand

John Williams

FRBSF Economic Letter, 2013, issue feb25

Abstract: The primary reason unemployment remains high is a lack of demand. An aggregate demand shortfall is exactly the kind of problem monetary policy can address. Thus, we need powerful and continuing monetary stimulus to move toward maximum employment and price stability. ; This letter is adapted from a presentation by the president and CEO of the Federal Reserve Bank of San Francisco to The Forecasters Club in New York, New York, on February 21, 2013.

Keywords: Monetary policy; Employment (search for similar items in EconPapers)
Date: 2013
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