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Monetary Policy’s Role in Fostering Sustainable Growth

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Monetary Policy’s Role in Fostering Sustainable Growth

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Что внутри?

Monetary policy alone will no longer be enough to spur growth in an expanding US economy.

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Editorial Rating

9

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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.

Summary

The Federal Reserve has a mandate to keep the US economy on track through policies that maximize employment and keep inflation at an average of 2% annually. These goals are within reach: Projections have the unemployment rate hovering close to 4% through 2018 – signifying essentially a full-employment economy. Analysts expect inflation, which has been below its goal, to meet the 2% target by 2018 or 2019. Pricing competition from foreign goods and services, along with steep reductions in items such as airfares, prescription drug costs and wireless service fees...

About the Author

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

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