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Looking Back, Looking Ahead

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The U.S. economy is in good shape, with the labor market at maximum employment and inflation nearing the Fed?s goal. Given the progress made on these goals and signs of continued solid momentum, it makes sense to gradually move interest rates toward more normal levels. The actual pace of increases will be driven by the evolution of economic conditions and its implications for achieving the Fed?s dual mandate objectives. The following is adapted from a speech by the president and CEO of the Federal Reserve Bank of San Francisco to the 2017 Economic Forecast in Sacramento on January 17.

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  • John C. Williams, 2017. "Looking Back, Looking Ahead," FRBSF Economic Letter, Federal Reserve Bank of San Francisco.
    • Handle: RePEc:fip:fedfel:00117
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    References listed on IDEAS

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    1. Congressional Budget Office, 2016. "The Budget and Economic Outlook: 2016 to 2026," Reports 51129, Congressional Budget Office.
    2. repec:cbo:report:519082 is not listed on IDEAS
    3. Congressional Budget Office, 2016. "The Budget and Economic Outlook: 2016 to 2026," Reports 51129, Congressional Budget Office.
    4. Daniel Aaronson & Scott Brave & David Kelley, 2016. "Is There Still Slack in the Labor Market?," Chicago Fed Letter, Federal Reserve Bank of Chicago.
    5. Congressional Budget Office, 2016. "An Update to the Budget and Economic Outlook: 2016 to 2026," Reports 51908, Congressional Budget Office.
    6. Rhys M. Bidder & Tim Mahedy & Robert G. Valletta, 2016. "Trend Job Growth: Where's Normal?," FRBSF Economic Letter, Federal Reserve Bank of San Francisco.
    7. Stephanie Aaronson & Tomaz Cajner & Bruce Fallick & Felix Galbis-Reig & Christopher Smith & William Wascher, 2014. "Labor Force Participation: Recent Developments and Future Prospects," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 45(2 (Fall)), pages 197-275.
    8. repec:cbo:report:519081 is not listed on IDEAS
    9. Congressional Budget Office, 2016. "The Budget and Economic Outlook: 2016 to 2026," Reports 51129, Congressional Budget Office.
    10. Congressional Budget Office, 2016. "The Budget and Economic Outlook: 2016 to 2026," Reports 51129, Congressional Budget Office.
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    Cited by:

    1. Isabel Cairó & Shigeru Fujita & Camilo Morales-Jimenez, 2020. "The Cyclicality of Labor Force Participation Flows: The Role of Labor Supply Elasticities and Wage Rigidity," Working Papers 20-23, Federal Reserve Bank of Philadelphia.
    2. Andrea Ajello & Isabel Cairó & Vasco Curdia & Thomas A. Lubik & Albert Queraltó, 2020. "Monetary Policy Tradeoffs and the Federal Reserve's Dual Mandate," Finance and Economics Discussion Series 2020-066, Board of Governors of the Federal Reserve System (U.S.).
    3. Isabel Cairo & Shigeru Fujita & Camilo Morales-Jimenez, 2022. "The Cyclicality of Labor Force Participation Flows: The Role of Labor," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 43, pages 197-216, January.

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