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Federal Reserve Bank of Boston
Speech
Exploring current economic conditions and the implications for monetary policy: remarks at the National Association for Business Economics (NABE) 60th Annual Meeting, Boston, Massachusetts, October 1, 2018
Eric S. Rosengren
Abstract

While inflation remains well contained to date, pushing the economy too hard risks inflationary concerns or financial-stability risks. Either of these outcomes might necessitate a more forceful monetary policy response. While a more forceful policy might be appropriate under such conditions, it is not a risk-free strategy and could put at risk the continued expansion. The history of rapid rate increases in the U.S. suggests that such a risk is real, and as a result my preference for a strategy that allows a continued, but gradual, pace of monetary tightening.


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Eric S. Rosengren, Exploring current economic conditions and the implications for monetary policy: remarks at the National Association for Business Economics (NABE) 60th Annual Meeting, Boston, Massachusetts, October 1, 2018, Federal Reserve Bank of Boston, Speech 138, 01 Oct 2018.
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Keywords: labor markets; economic outlook; financial stability; short-term rates; global risks; dual mandate
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