Quotes About FOMC

The only way to ensure that inflation expectations remain safely anchored near the FOMC's target is to keep inflation close to that target on a consistent basis.

At its August 7, 2007, meeting, the FOMC had concluded that 'although the downside risks to growth have increased somewhat, the Committee's predominant policy concern remains the risk that inflation will fail to moderate as expected.' How's that going?, many of us thought when we read the statement. The predominant concern is inflation? Many Fed watchers blinked in disbelief. What were those guys thinking?

The FOMC has considerable control over short-term interest rates. We have much less influence over long-term rates, which are set in the marketplace.

She also brought a practical banker's perspective, a valuable complement to the economists on the Board and the FOMC.

At FOMC meeting breaks he would inhale doughnuts, but nevertheless remained slim.)

I was less sure of how well Dan, a lawyer among economists, would fit into the FOMC,

that a program of this size and importance should be undertaken with FOMC approval,

They believed that, given the significance of the decision, I should not have announced the program before the FOMC formally voted.

The FOMC supported my recommendation, with only Esther George dissenting, as she had all year.

Although FOMC members, hawks and doves alike, agreed it was time to wind down our emergency lending programs, they differed on when to begin rolling back our accommodative monetary policy.

In return, I tried to do Janet a favor by urging the assembled FOMC members to be more constructive and less strident in their public remarks.

Still, in the interest of good planning, I thought it made sense for the FOMC to discuss and agree on the mechanics of normalizing policy. And

In the absence of a decision by the FOMC, I could not make definitive promises. But just by discussing the possibilities at length I would send a signal that we were prepared to act.

Financial market participants appear to recognize the FOMC's data-dependent approach because incoming data surprises typically induce changes in market expectations about the likely future path of policy, resulting in movements in bond yields that act to buffer the economy from shocks.

The Federal Open Market Committee (FOMC) is committed to policies that promote maximum employment and price stability, consistent with our mandate from Congress.