Why Not Declare Victory?

Tom Barkin

Speech from Federal Reserve Bank of Richmond

Abstract: The FOMC cut the fed funds rate 50 basis points at our September meeting. This cut came largely because of the progress we’ve made on inflation. At times, in the past, the FOMC has made such a significant rate cut in response to a troubled economy. Happily, that is not the case today. I see our September decision as a recalibration to a somewhat less restrictive stance. Victory means different things to different people, and — while we have made real progress — there remains significant uncertainty on both inflation and employment. As we decide how fast to move and how far to go during this rate reduction cycle, we are just going to need to be attentive and learn as we go.

Keywords: business cycle; economic growth; inflation; monetary policy (search for similar items in EconPapers)
Date: 2024-10-02
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.richmondfed.org/press_room/speeches/th ... rkin_speech_20241002 Speech (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:r00034:101225

Access Statistics for this paper

More papers in Speech from Federal Reserve Bank of Richmond Contact information at EDIRC.
Bibliographic data for series maintained by Matt Myers ().