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Description: Federal Reserve Chairman Jerome Powell discusses key issues in monetary policy and the economy at the Thomas Laubach ...
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think there are sort of two kinds of 3.06 Jump to 207.959 CARDINAL two
was one of the people who few people who 6.901 Jump to 231.599
first of all let me say this this 3.96 Jump to 288 ORDINAL first
this happen here today so I I first met 4.8 Jump to 297.78 DATE today ORDINAL first
governor in May 2012 almost exactly 11 6.36 Jump to 302.58 DATE May 2012
became chair in 2018 Tomas was the head 5.22 Jump to 356.58 DATE 2018 ORG Tomas
conducted our first ever public monetary 4.92 Jump to 369.6 ORDINAL first
college that his older sisters did 10 4.98 Jump to 442.08 CARDINAL 10
in 1975 during what we now call the 4.739 Jump to 468.96 DATE 1975
and restore price stability and uh one 4.56 Jump to 499.02 CARDINAL one
nonetheless far above our two percent 4.019 Jump to 524.82 PERCENT two percent
first time in their lives 4.2 Jump to 530.88 ORDINAL first
returning to our two percent goal we 4.26 Jump to 562.44 PERCENT two percent
happened to me when I was six years old 4.32 Jump to 588.42 DATE six years old
now I was only six years old but I could 4.379 Jump to 629.64
productive capacity in 1933 that you had 6.361 Jump to 644.519 DATE 1933
in 1928 and in 1928 people were dancing 5.641 Jump to 647.399 DATE 1928 DATE 1928
to Charleston in 1933 they were in bread 4.98 Jump to 650.88 GPE Charleston DATE 1933
both of you during your 10 years as 5.021 Jump to 697.519 DATE 10 years
decline in capital you had the second 3.48 Jump to 807.18 ORDINAL second
for depositors the third stage of the 5.86 Jump to 822.44 ORDINAL third
differences one is that the impaired 4.98 Jump to 882.18
one very important difference I think 3.421 Jump to 911.639 CARDINAL one
it's a great question and it's one I 3.06 Jump to 1184.64
War One World War II the Korean War and 5.821 Jump to 1320.299 EVENT World War II EVENT the Korean War
it's one aspect of that which is very 4.441 Jump to 1422.059 CARDINAL one
first step in getting control of 4.441 Jump to 1434.419 ORDINAL first
the unemployment rate was around three 4.08 Jump to 1447.86 CARDINAL three
and a half percent you know five decade 5.701 Jump to 1449.419 DATE know five decade
kind of struggling to get up to two 4.559 Jump to 1455.12 CARDINAL two
in 2023 the unemployment rate is roughly 4.441 Jump to 1459.679 DATE 2023
above uh two percent 4.4 Jump to 1466.82 PERCENT two percent
first place okay you want to take that 4.441 Jump to 1490.039 ORDINAL first
one first as I was talking about before 5.841 Jump to 1491.659
low close to three and a half percent 3.9 Jump to 1590.72
inflation when it first spiked in Spring 5.759 Jump to 1619.52 ORDINAL first DATE Spring
of 2021 by contrast I do think that 4.861 Jump to 1622.279 CARDINAL 2021
unemployment rate of say four percent uh 5.22 Jump to 1665.059 PERCENT four percent
2021 than it did in 2018. 5.341 Jump to 1670.279 CARDINAL 2021 DATE 2018
um we at the end of 2018 and the end of 4.92 Jump to 1692.48 DATE the end of 2018
2021 we had four percent roughly 5.46 Jump to 1695.24 CARDINAL 2021 PERCENT four percent
unemployment in both cases in 2018 the 5.7 Jump to 1697.4 DATE 2018
vacancies to unemployment ratio was one 5.339 Jump to 1700.7 CARDINAL one
to one essentially in 2021 it was two to 5.22 Jump to 1703.1 CARDINAL one DATE 2021 CARDINAL two
one and that was a much better indicator 5.421 Jump to 1706.039
one of its purposes the narrow purpose 3.901 Jump to 1812.179 CARDINAL one
Greenspan and go back to 1994 the first 6.18 Jump to 1820.46 PERSON Greenspan DATE 1994 ORDINAL first
other reasons for uh communication one I 5.22 Jump to 1850.88
affects them uh one final thing I would 5.759 Jump to 1877.52
four times a year after the um summary 4.321 Jump to 1916.039 CARDINAL four
burden or a sector second order 4.5 Jump to 2041.74 ORDINAL second
chairman Greenspan beginning in 1994 3.72 Jump to 2048.22 PERSON Greenspan DATE 1994
with the first post meeting statement 4.92 Jump to 2050.32 ORDINAL first
just every other one we have greatly 4.139 Jump to 2063.76
in 2019 and 20 we conducted a public 4.26 Jump to 2078.76 DATE 2019 CARDINAL 20
Jay in one school of thought forward 4.781 Jump to 2162.119 CARDINAL one
that was the March 2020 FMC meeting the 6.359 Jump to 2238.24 DATE March 2020
rate increases you know the two-year 4.74 Jump to 2268.9 DATE two-year
Titan between the September 21 meeting 5.04 Jump to 2271 GPE Titan DATE September 21
and the and liftoff in March of 20 it 4.38 Jump to 2273.64 DATE March CARDINAL 20
tightened by 200 basis points before we 4.38 Jump to 2276.04 CARDINAL 200
inflation at two percent over time as I 4.62 Jump to 2316.06 PERCENT two percent
assessment will be an ongoing one as we 4.14 Jump to 2320.68
a different forecast one in which 3.72 Jump to 2362.26
one is people don't understand the 4.36 Jump to 2488.04
March 2020 as a counter example but most 3.84 Jump to 2521.32 DATE March 2020
think uh just if I might editorize one 4.2 Jump to 2530.2 CARDINAL one
more minute the I think one of the 4.32 Jump to 2532.48 TIME more minute
rate by five percentage points in a 2.82 Jump to 2601.42 CARDINAL five
Communications on the one hand we wanted 4.1 Jump to 2665.56
2021 but then turned decisively against 6.24 Jump to 2689.98 DATE 2021
500 basis points in just over a year 5.28 Jump to 2701.68 CARDINAL 500 DATE just over a year
to return inflation to two percent over 3.06 Jump to 2710.92 PERCENT two percent
this one situation I think on 6.419 Jump to 2892.66
one of the things that I would urge 3.599 Jump to 2942.76 CARDINAL one
program here at 1pm thanks everyone 4.219 Jump to 3034.14