02/24/2021 | Press release | Distributed by Public on 02/24/2021 12:06
U.S. Economic Outlook and Monetary Policy
It is my pleasure to meet virtually with you today.
1 I look forward to our conversation, but first, please allow me to offer a few remarks on the economic outlook, the Federal Reserve s monetary policy, and our new monetary policy framework.
Current Economic Situation and Outlook
In the second quarter of last year, the COVID-19 (coronavirus disease 2019) pandemic and the mitigation efforts put in place to contain it delivered the most severe blow to the U.S. economy since the Great Depression, but economic activity rebounded sharply in the third quarter, supported by a robust and unprecedented fiscal and monetary policy response. More recently, the pace of recovery has moderated in part because of a winter resurgence in COVID-19 cases and hospitalizations.
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ThyBlackMan.com) The means, by which our economy can reach its potential of creating consistently over 200,000 jobs monthly, has to directly involve the consumer! The reason, for making this statement is relatively simple. The consumer makes up approximately 70% of our GDP (gross domestic product), which means Consumer Spendingis responsible for 70% of the jobs created in our economy. Joe Biden’s continued pragmatic, and fact-based approach to growing our economy will not fail, because it is data driven. Using factual information to rebuild the U.S. economy will make the Biden administration eminently successful.
The consumer, cannot be taken out of any equation that purports to be the answer to the solution of the effects of slow economic growth, caused by the
U.S. Economic Outlook And Monetary Policy, Federal Reserve Vice Chair Richard H. Clarida, At The C. Peter McColough Series On International Economics Council On Foreign Relations, New York, New York (Via Webcast) Date
08/01/2021
It is my pleasure to meet virtually with you today at the Council on Foreign Relations.1 I regret that we are not doing this session in person, as we did last year, and I hope the next time I am back, we will be gathering together in New York City again. I look forward to my conversation with Steve Liesman and to your questions, but first, please allow me to offer a few remarks on the economic outlook, Federal Reserve monetary policy, and our new monetary policy framework.