The FOMC has two objectives: maximizing sustainable economic growth and maintaining price stability. At times-like the past year-these goals appear to be in conflict. This Commentary outlines some economic theory that suggests that in the long run, the FOMC can achieve its two objectives by...

When the economy slows, monetary policymakers face pressure to deviate from their longer-term goals to address short-term problems. This Commentary argues that the Fed must stay focused on the long term—maintaining the stable purchasing power of the dollar. The Commentary is adapted from a...

This Commentary is adapted from Ms. Pianalto's remarks at the annual forecast dinner of the Home Builders' Association of Greater Akron, January 27, 1999.

Presentation to the joint convention of the Idaho, Nevada, and Oregon Bankers Associations, Coeur d'Alene, ID, July 9, 2012

The pace of economic growth has been frustratingly slow and the recovery has lost momentum in recent months. The economy is weighed down by the ongoing European sovereign debt crisis and fiscal tightening in our own country. In these circumstances, it is essential that the Federal Reserve...

Presentation to community leaders, Salt Lake City, Utah, November 2, 2012

Presentation to Portland community leaders, Portland, OR. July 12, 2012

Presentation to Seattle-Area community leaders, Bellevue, WA, June 6, 2012

Presented at The Forecasters Club, New York, New York, February 29, 2012.>