Inflation and Unemployment (revised)

Jeffrey Lacker

Speech from Federal Reserve Bank of Richmond

Abstract: * this is a revised version of the March 29, 2007 speech to the Virginia Association of Economists Let me begin by telling you about some recent experiences. I had the opportunity earlier this year to guest-teach a couple of business school economics classes. I opened my discussions with a pair of questions, asking students to put themselves in the place of a monetary policymaker choosing a target for the federal funds rate. First I gave them a set of hypothetical facts about the state of the economy: a slowdown in housing in the wake of multi-year housing boom; rising mortgage default rates; preliminary indicators of a slowing in business investment. And then I asked them: "What are you going to do?" The students dutifully responded that this situation could call for a reduction in the funds rate. They'd obviously been doing their homework.

Date: 2007-04-11
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.richmondfed.org/press_room/speeches/je ... cker_speech_20070411 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:r00034:101669

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 ().