2020 Lessons, 2021 Priorities this post authored by Mary C. Daly
What lessons should we take from a difficult year - and what should our priorities be for 2021? Overcoming the harsh and uneven economic impacts of COVID-19 and returning to full employment and sustainable 2% inflation will be the Federal Reserve’s chief concerns. But success will require us to have confidence in the power of our tools.
The following is adapted from a presentation by the president and CEO of the Federal Reserve Bank of San Francisco to the Arizona State University Economic Forecast Luncheon on December 1.
Hello everyone. It’s safe to say that 2020 has been a year to remember. Twelve months ago, we were in the midst of the longest economic expansion in U.S. history. Unemployment sat near historic lows, wages and incomes were rising, and inflation was moving gradually back toward our 2% target.
confirm him once again. j. will also bring to the fed a unique background of prior government service and business experience. he previously served as undersecretary at the department of treasury, in the administration of president george: h.w. wubush and the longest serving chairman in federal reserve history, j. will bring extensive private sector experience and real world perspective to our government as a result he understands what it takes for our economy to grow, and just as importantly, he understands what truly drives american success. the innovation, hard work and dreams of the american people. i also want to thank the current chair, fed chair, janet yellen.