This is a fairly essential read for those who wish to discern in more detail the current Federal Reserve Chairman’s thinking, looking back at three specific periods of the post-war era, and placing today’s challenges within a historic context.
The speech was given at this year’s Jackson Hole Symposium in late August.
“ This year’s symposium topic is “Challenges for Monetary Policy,” and for the Federal Reserve those challenges flow from our mandate to foster maximum employment and price stability. From this perspective, our economy is now in a favorable place, and I will describe how we are working to sustain these conditions in the face of significant risks we have been monitoring.
The current U.S. expansion has entered its 11th year and is now the longest on record. The unemployment rate has fallen steadily throughout the expansion and has been near half-century lows since early 2018. But that rate alone does not fully capture the benefits of this historically strong job market…”
See our marked-up version of the above and links in the log in area.