What’s Ahead for the U.S. Economy and Monetary Policy?

Your theme, “Bouncing Back,” seems to sum things up very well, so I could probably end my talk right here. But it is probably better if I take a few moments to discuss my views on the shape of the bounce-back and the implications for monetary policy. Of course, these views will be my own and not necessarily those of the Federal Reserve System or of my colleagues on the Federal Open Market Committee. When we talk about the economy, it is important to remember that it is made up of households, businesses, including banks, and communities throughout the U.S. All have soldiered on through these extraordinarily difficult and unprecedented times. Ohio bankers have played a very important role in supporting families and businesses throughout the pandemic. You have provided valuable credit, risk-management, and liquidity services. Your significant contributions helped to shorten the recession and they continue to sustain the recovery.