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The outlook and monetary policy challenges

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  • John C. Williams

Abstract

The pace of economic growth has been frustratingly slow and the recovery has lost momentum in recent months. The economy is weighed down by the ongoing European sovereign debt crisis and fiscal tightening in our own country. In these circumstances, it is essential that the Federal Reserve provide sufficient monetary accommodation to keep our economy moving towards the central bank’s maximum employment and price stability mandates. This Letter is adapted from a presentation by the president and CEO of the Federal Reserve Bank of San Francisco to the Idaho, Nevada, and Oregon Bankers Associations on July 9, 2012.

Suggested Citation

  • John C. Williams, 2012. "The outlook and monetary policy challenges," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue july23.
  • Handle: RePEc:fip:fedfel:y:2012:i:july23:n:2012-22
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    References listed on IDEAS

    as
    1. Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "The Aftermath of Financial Crises," American Economic Review, American Economic Association, vol. 99(2), pages 466-472, May.
    2. Mary Daly & Bart Hobijn & Aysegul Sahin & Robert Valletta, 2011. "A Rising Natural Rate of Unemployment: Transitory or Permanent?," Tinbergen Institute Discussion Papers 11-160/3, Tinbergen Institute.
    3. Brian Lucking & Daniel J. Wilson, 2012. "U.S. fiscal policy: headwind or tailwind?," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue july2.
    4. Galina Hale & Elliot Marks & Fernanda Nechio, 2012. "Are U.S. corporate bonds exposed to Europe?," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue jun4.
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