Press Releases

Williams says his “role as a policymaker is to keep this expansion going for as long as possible” Says “unusually low prices of certain goods and services, combined with the lagged effects of the economy” explain the apparent “mystery” of low inflation Says “if we don’t move interest rates back up to more normal levels, […]

Says a very low neutral interest rate (r-star) environment is “not confined to the U.S. economy” Emphasizes need for “a global perspective that recognizes the interdependence of our economies and financial systems” Calls for policymakers to debate monetary policy framework options that “make ourselves more resilient” San Francisco, California – Today, John C. Williams, president […]

San Francisco, California — The Federal Reserve Bank of San Francisco announced that Karen T. Lee, chief executive officer of Pioneer Human Services, was appointed to the Bank’s Economic Advisory Council (EAC). Ms. Lee’s term began on August 1 of this year and lasts through December 31, 2019. Karen T. Lee Ms. Lee has been […]

Cites these supply-side factors as causes of global growth slump Says new trend is emerging as countries make post-recession strides while still experiencing lackluster growth; calls it “the big dichotomy of our times” Indicates future consequences yet to be determined; depend mostly on policy choices outside purview of monetary policy Sydney, Australia — Today, John […]

Says balance sheet management process will be widely telegraphed, gradual, predictable and “boring” to minimize risk of unnecessary market volatility Stresses importance of public understanding Reaffirms Fed goal of keeping expansion going “as long as possible” by bringing monetary policy back to more normal setting; keeping it on path that neither exceeds speed limit, nor […]

San Francisco, California — The Board of Directors of the Federal Reserve Bank of San Francisco has appointed Tracy Basinger executive vice president and director of Financial Institution Supervision and Credit Division (FISC), the Bank announced today. In this capacity, Ms. Basinger will oversee bank supervision and regulation for bank holding companies, state member banks, […]

San Francisco, California — The Federal Reserve Bank of San Francisco announced that Robert (Bob) C. Donegan, president of Ivar’s Restaurants, was appointed to the Federal Reserve Bank of San Francisco’s Economic Advisory Council (EAC). Mr. Donegan’s term began on June 1 of this year and lasts through December 31, 2019. Robert (Bob) C. Donegan […]

Forecasts that process for unwinding Fed’s balance sheet will begin later this year and will be widely telegraphed, gradual, and “boring” Asserts that balance sheet management will take place in the “background” while interest rates continue to be the primary lever used to keep economy from overheating or running too cold Says normalization of U.S. […]

Says “adaptability, accessibility, and accountability” are hallmarks of sound strategy Suggests that price-level targeting is worthy of serious consideration by the Fed and Central Banks across the world Tells economists that it’s best to prepare for next economic storm today, while economy is in calmer waters than to wait for next crisis New York, New […]

San Francisco, California — The Federal Reserve Bank of San Francisco has launched the Twelfth District Community Advisory Council, a group composed of leaders of nonprofit and community organizations from throughout the Bank’s district. The Council will provide the San Francisco Fed a diverse, on-the-ground perspective on issues impacting communities throughout the region. The group’s […]