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The National and Regional Economic Outlook and Monetary Policy, 11-30-2016; The African American Chamber of Commerce of Western Pennsylvania Annual Business Luncheon, Pittsburgh, PA

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  • Loretta J. Mester

Abstract

Today, I would like to focus on our monetary policy role by discussing my outlook for both the national and regional economy and my views on monetary policy. The economic expansion is now in its eighth year, and considerable progress has been and continues to be made on both parts of the Fed?s statutory goals of full employment and price stability. In my view, the underlying fundamentals supporting the economic expansion remain sound. As we gain more clarity about the policies that might be forthcoming, the FOMC will assess their effects, as well as the implications of economic and financial developments, on the medium-run economic outlook and appropriate monetary policy. Monetary policy is not on a pre-set course and we will continue to use the best available models, analysis, and judgment to assess the situation.

Suggested Citation

  • Loretta J. Mester, 2016. "The National and Regional Economic Outlook and Monetary Policy, 11-30-2016; The African American Chamber of Commerce of Western Pennsylvania Annual Business Luncheon, Pittsburgh, PA," Speech 78, Federal Reserve Bank of Cleveland.
    • Handle: RePEc:fip:fedcsp:78
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    Keywords

    Labor Markets; Inflation; Small Businesses; Monetary Policy;
    All these keywords.

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