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The New Environment for Monetary Policy

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  • Tom Barkin

Abstract

Overall, the economy looks healthy, with solid GDP growth, robust consumer spending and a strong labor market. There are headwinds related to trade and uncertainty, however, that might be lowering business confidence and dampening investment. Uncertainty might also lessen the effectiveness of traditional fiscal and monetary policy. The biggest boost to the economy would come from decreasing the uncertainty. Looking to the future, I am closely watching the divergence between consumer spending and business investment; the strength of the U.S. economy versus weakness internationally; and the optimism of the stock market compared to the pessimism of the bond market.

Suggested Citation

  • Tom Barkin, 2019. "The New Environment for Monetary Policy," Speech 101347, Federal Reserve Bank of Richmond.
    • Handle: RePEc:fip:r00034:101347
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    File URL: https://www.richmondfed.org/press_room/speeches/thomas_i_barkin/2019/barkin_speech_20191113
    File Function: Speech
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