Remarks at the C. Peter McColough Series on International Economics, Council on Foreign Relations, New York City.

Remarks at 2010 CFA Institute Fixed Income Management Conference, Newport Beach, California.

Remarks at the C. Peter McColough Series on International Economics, Council on Foreign Relations, New York City.

Remarks at 2010 CFA Institute Fixed Income Management Conference, Newport Beach, California.

Must the FOMC increase its target before inflation, or will inflation increase and cause the FOMC to increase its target?

I assess how dissenting views on appropriate monetary policy result in disagreement about the macroeconomic outlook of Federal Open Market Committee members. FOMC members that voted for a higher Fed Funds Rate than the majority of voters also forecast higher inflation rates, while they forecast...

In October 1982 the FOMC deemphasized M1 and moved to what is commonly referred to as a borrowed reserves operating procedure. Sometime thereafter the FOMC switched to a funds rate targeting procedure but never formally announced the change. Given the close correspondence between a borrowed...

Remarks at the University of Chicago Booth School of Business Annual U.S. Monetary Policy Forum, New York City.

Remarks before the Morris County Chamber of Commerce, Florham Park, New Jersey.