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Monetary Policy’s Role in Fostering Sustainable Growth
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Monetary Policy’s Role in Fostering Sustainable Growth

John C. Williams
FRBSF, 2017
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Editorial Rating

9

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  • Engaging
  • Insider's Take

Recommendation

After the 2008 financial crisis whipped through the US economy, bringing down both institutions and individuals, the Federal Reserve’s monetary policy played a critical part in bolstering the recovery. The interventions were effective, but San Francisco Fed president John C. Williams says it’s now time for the central bank to step back and let other growth drivers in both the public and private sectors take its place. In this candid speech, he offers his thoughts on how the Fed can and should influence the future economic landscape. getAbstract recommends this authoritative commentary to policy makers, investors and executives.

Take-Aways

  • The Federal Reserve has a mandate to keep the US economy on track through policies that maximize employment and keep inflation at a 2% annual average.  
  • These goals are within reach: The economy is at full employment and inflation is edging closer to its target.
  • Yet economic growth in the United States remains extraordinarily low due to demographic changes and reduced productivity growth.

About the Author

John C. Williams is president and CEO of the Federal Reserve Bank of San Francisco.

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