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The right profile: economic drivers and the outlook

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Abstract
Headline news can give false impressions of what motivates monetary policymakers. While international developments and financial market volatility are closely monitored, what matters for policy is how those things affect jobs and inflation. The U.S. economy has had strong job growth, and inflation is low but on course to reach target. The best course remains a gradual pace of policy rate increases. The following is adapted from a presentation by the president and CEO of the Federal Reserve Bank of San Francisco to Town Hall Los Angeles on February 18.

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  • John C. Williams, 2016. "The right profile: economic drivers and the outlook," FRBSF Economic Letter, Federal Reserve Bank of San Francisco.
    • Handle: RePEc:fip:fedfel:00083
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    1. Stephanie Aaronson & Tomaz Cajner & Bruce Fallick & Felix Galbis-Reig & Christopher Smith & William Wascher, 2014. "Labor Force Participation: Recent Developments and Future Prospects," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 45(2 (Fall)), pages 197-275.
    2. Mary C. Daly & Bart Hobijn, 2016. "The intensive and extensive margins of real wage adjustment," Working Paper Series 2016-4, Federal Reserve Bank of San Francisco.
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