Bank Kansas City. Each year since 1982, the Kansas City fed has been honored to welcome central bankers, policymakers and others to jackson hole, wyoming for our economic always eat symposium. By hosting and a virtual conference last year it was our hope we could was in person this week, and that seemed a reasonable plan before local health conditions changed. I regret the inconvenience of this virtual format and i want to express my thanks to our partners at the Jackson Lake Lodge and the others in the Jackson Hole Area for working with us to make preparations and accommodations. We will open the Program Today with our first speaker, fed chairman jay powell, whose remarks will be broadcast to the public. Following that, the remainder of the program, titled macroeconomic policy in an uneven economy, for invited guests. As always, the full agenda and each paper presented will be posted at our public website kansascityfed. Org, and a transcript of the symposium will be made available aft
On behalf of my colleagues at peterson you studied with her had the privilege to work with studied with or had the privilege to work with [inaudible] important works on military policy and economics. He served as Assistant Secretary of the u. S. Department of treasury, was effectively the chief economist of the treasury from 2002 to 2003. [inaudible] working with jay powell, now joining him at the fed. Recognition of his service. He served on the council of economic advisors. Rich is not only known in academia [inaudible] was a member of the national bureau of economic research. 2018, coeditor at the npr international dr. Clarida received his bs in economics and phd. Rich, it is our privilege to have you 11 months ago when you came to the Peterson Institute to explain the strategic framework and now here to explain the economic outlook in the process for u. S. Monetary policy. Dr. Clarida adam, thank you so much, always enjoy my opportunities, both live and virtually at peterson. The g
Increased 5. 4 over a year earlier. Senate committee of banking will come to order. Today our economy is growing because of the american Rescue Plan. In the bidenharris administrations leadership. Putting shots and money in pockets families have extra to pay the bills. Beginning today, july 15th, most parents will see a 250 or 300 monthly payment in their Bank Account for each child. In my state 92 of children are eligible. Small businesses are reopening their doors. Workers are safely going back to work at higher wages. Last month we added 850,000 jobs to the economy since biden took office. We gained 3 million more jobs, more than in the first five moves any presidency in modern history. Not only the jobs numbers but theuality of these jobs. For the first time in decades workers are starting to gain some power in our economy, the power to negotiate higher wages, the power to get better working conditions, the power to have more control over their schedules and stronger benefits, and
Joe. Were taking you to the hearing as soon as it begins steve liesman, i think the words maybe best describe the fed clair today, staying the course. Yeah, for sure, looking the inflation numbers right in the eye and not blinking really, scott. I didnt layer anything in the testimony say he waS Planning to accelerate the asset purchases or the winding down of asset purchases or indeed raising Funds Rate any sooner than expected when i look at where the marketS Priced, he has the market with him, scott he has stocks with him, certainly bonds with him the 10year at what is it now, 1. 36, 37, its not screaming inflation concerns the 2year at 24 not screaming inflation concerns, even know the numbers have been hotter than expected, powell is sticking to his guns and he expects inflation to moderate and they have a long way to go when it comes to the Labor Market. Its a delicate balance, though, right, steve he acknowledges front and center inflation is hot, going to remain hot for some ti
The u. S. Economy, inflation, and u. S. Labor shortages. He took questions from the senate banking committee. Senate committee of banking will come to order. Today our economy is growing because of the american Rescue Plan. In the bidenharris administrations leadership. Putting shots and money in pockets families have extra to pay the bills. Beginning today, july 15th, most parents will see a 250 or 300 monthly payment in their Bank Account for each child. In my state 92 of children are eligible. Small businesses are reopening their doors. Workers are safely going back to work at higher wages. Last month we added 850,000 jobs to the economy since biden took office. We gained 3 million more jobs, more than in the first five moves any presidency in modern history. Not only the jobs numbers but theuality of these jobs. For the first time in decades workers are starting to gain some power in our economy, the power to negotiate higher wages, the power to get better working conditions, the p