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A popular belief in hard money internet commentary is that economists are conspiring to lower reported inflation. The advantage of this is to mislead voters and to reduce ...
Thank you for that kind introduction, Dom [Haskett]. I was just at the Jackson Hole Economic Symposium, where the Kansas City Fed gathers central bankers and researchers at Grand Teton National Park to discuss the latest global economic issues. Visiting the Wyoming mountains reminded me of being in the Girl Scouts growing up. I cherished evenings around the campfire with my friends. But you can stay up only so late and eat only so many s’mores. Eventually, you have to put the fire out. Now, as every Scout knows, when you put out your campfire, you must make sure it is “cold out”—so completely extinguished that you feel no heat when you touch the ashes with your bare hands. Any warm embers could reignite later. The traditional way to make sure a fire is cold out is to pour water on it—lots of water—until you have eliminated every last bit of heat. That is a good way to put out campfires, but I will argue today that it is not a good way to put out inflation. The Federal Open Market Committee (FOMC) is strongly committed to our 2 percent inflation target. After the unacceptably rapid price increases of the past several years, I’m not yet convinced that we’ve extinguished excess inflation. But in today’s complex economic environment, returning inflation to 2 percent will require a carefully calibrated approach—not endless buckets of cold water. Before I go any further, I’ll just note that the views I express are mine and not necessarily those of my colleagues on the FOMC. post: Fed’s Logan: There’s ‘Work Left to Do’ to Get to Sufficiently Restrictive Policy Fed’s Logan: Skipping Does Not Imply Stopping Rate Hikes Fed’s Logan: Not Yet Convinced We’ve Extinguished Excess Inflation post: Fed’s Logan: Fed Needs to Calibrate Policy ‘Carefully,’ Must Proceed Gradually Fed’s Logan: Job Market Strength Suggests We Have Not Finished the Job of Restoring Price Stability Fed’s Logan: if Stronger Economic Activity Continues, Could Lead to a Resurgence of Inflation
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Suntory CEO and the chairman of Japan Association of Corporate Executives Takeshi Niinami said the yen may weaken to 170 yen per dollar if the central bank sticks to a policy ...
post: *Japan FinMin Suzuki: Excessive FX Moves Aren’t Desirable post: *Japan FinMin Suzuki: Won’t Rule Out Any Options to Address Excessive Moves
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- Posted: Sep 7, 2023 7:52pm
- Submitted by:Category: Low Impact Breaking NewsComments: 0 / Views: 2,254
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