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An Update on the Economy and Monetary Policy

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  • Loretta J. Mester

Abstract

I last spoke at a NABE conference in February. That was only six short months ago, but it seems like a lifetime. Many things have changed since then, including current economic conditions and the outlook for the economy and monetary policy. I want to compliment NABE for maintaining its important programming throughout the pandemic. It is a demonstration of perseverance and resilience in the face of extraordinary circumstances, traits exhibited by many households, businesses, and organizations over the past several months. Such resilience is a hallmark of the U.S. economy, and it will prove useful as the economy makes its way to a sustainable recovery. Before we turn to the question and answer part of this session, I’ll give you a brief update on the economic outlook and monetary policy, and touch on the changes to the FOMC’s policy strategy that were announced last week.

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  • Loretta J. Mester, 2020. "An Update on the Economy and Monetary Policy," Speech 88683, Federal Reserve Bank of Cleveland.
    • Handle: RePEc:fip:fedcsp:88683
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