Untangling Persistent versus Transitory Shocks to Inflation Kevin J. Lansing How much persistent versus transitory forces contribute to inflation influences the Federal Reserve’s ability to achieve its goal of 2% average inflation over time. If elevated inflation is driven mainly by persistent shocks, then a stronger and longer-lasting policy response is likely to be needed […]
Introduction In 2019, 5.4 percent of US households were unbanked, meaning that no one in the household had a checking or savings account at a bank or credit union (FDIC 2020).1 The likelihood of being unbanked was even higher for some segments of the population, such as low-income and racial and ethnic minority households.2 As shown in […]
Digital Assets and the Future of Finance: Examining the Benefits and Risks of a U.S. Central Bank Digital Currency Vice Chair Lael Brainard Before the Committee on Financial Services, U.S. House of Representatives, Washington, D.C. Chairwoman Waters, Ranking Member McHenry, and other members of the Committee, I am pleased to join you today. With technology […]
Estimating Natural Rates of Unemployment Brandyn Bok and Nicolas Petrosky-Nadeau Before the pandemic, the U.S. unemployment rate reached a historic low that was close to estimates of its underlying longer-run value and the short-run level associated with an absence of inflationary pressures. After two turbulent years, unemployment has returned to its pre-pandemic low, and the […]
Responding to High Inflation, with Some Thoughts on a Soft Landing Governor Christopher J. Waller At the Institute for Monetary and Financial Stability (IMFS) Distinguished Lecture, Goethe University Frankfurt, Germany Thank you, Professor Wieland, for the introduction, and thank you to the Institute for Monetary and Financial Stability for the opportunity to speak to you […]
The Federal Open Market Committee (FOMC) is firmly committed to fulfilling its statutory mandate from the Congress of promoting maximum employment, stable prices, and moderate long-term interest rates. The Committee seeks to explain its monetary policy decisions to the public as clearly as possible. Such clarity facilitates well-informed decisionmaking by households and businesses, reduces economic […]
June 22, 2022 Semiannual Monetary Policy Report to the Congress Chair Jerome H. Powell Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, Washington, D.C. Chairman Brown, Ranking Member Toomey, and other members of the Committee, I appreciate the opportunity to present the Federal Reserve’s semiannual Monetary Policy Report. I will begin with one […]
COM O “NOVO NORMAL”, PRECISAMOS DE UM BRASIL ADOLESCENTE! O que você enxerga olhando para o futuro ? A chegada do COVID-19 representou e ainda representa um desafio global com relação à forma como os governos, as empresas e os indivíduos se relacionam nos diversos segmentos da sociedade, desde a circulação das pessoas, as preferência […]
Nem Bolsonaro nem Lula! Em 24 horas, vimos ambos os extremos da manifestação democrática dos últimos 20 (vinte) anos mais preocupados com o poder, satirizando e ironizando a pandemia para defender seus respectivos pontos de venda, ops, vista, passando por cima da crise, acima das demissões, acima das Falências, acima das dificuldades de toda a […]