Remarks at E-3 Summit of the Americas: Export Trade Basics Forum 101, San Juan, Puerto Rico.

Remarks at Forecasters Club of New York, New York City.>

Presented at the 2011 European Banking & Financial Forum, Prague, Czech Republic.

While the market for Treasury inflation-protected securities (TIPS) has developed considerably over the past decade, the debate over whether their issuance benefits the U.S. Treasury remains contentious. Information from inflation swap rates in conjunction with a joint model of yields for...

Presentation to Town Hall Los Angeles, Los Angeles, CA, May 4, 2011

We investigate the importance of trend inflation and the real-activity gap for explaining observed inflation variation in G7 countries since 1960. Our results are based on a bivariate unobserved-components model of inflation and unemployment in which inflation is decomposed into a stochastic...

Over the long term, steady job growth requires low and stable inflation. In this special issue of Forefront, Federal Reserve Bank of Cleveland President Sandra Pianalto explains why price stability is essential for maximum employment and how the adoption of a numerical target for inflation may...

It has often been reported that different demographic groups show persistent differences in their inflation expectations. Some reasonable explanations have been suggested, but most have failed to fully explain these apparent differences. We argue that the demographic differences have been...