Fed Policy
On the eve of the blackout period last week, Federal Reserve Governor Christopher Waller delivered a speech outlining why he believes the Fed should reduce interest rates by 25bps at the July 2025 FOMC meeting. Governor Waller’s arguments were rooted in data and solid macroeconomic analysis, and many of
This is the final post in our multi-part series on the Fed's 2025 framework review and strategy for dealing with supply shocks. Part 1 discusses how the Fed can deal with tariff inflation risks, Part 2 discusses the implications of recent productivity dynamics, Part 3 discusses the Fed&
This is the fourth post in our multi-part series on the Fed's 2025 framework review. Part 1 discusses how the Fed can deal with tariff inflation risks, Part 2 discusses the implications of recent productivity dynamics, and Part 3 discusses the Fed's inflation and supply shock
This is the third post in our multi-part series on the Fed's 2025 framework review. Part 1 can be found here and Part 2 can be found here. The Fed has an opportunity to learn valuable lessons and apply those lessons in a forward-looking manner. By revising its
This is the second post in our multi-part series on the Fed's 2025 framework review. Part 1 can be found here. The Fed has an opportunity to learn valuable lessons and apply those lessons in a forward-looking manner. By revising its framework accordingly, Fed policy can be more
Tariffs are back. With President Trump implementing and still proposing sweeping new import tariffs, the U.S. economy is staring down the barrel of policy-driven price increases and a new round of supply-driven cost-push inflation. If enacted for a long enough period of time, these policies could push up the
The uncertainty over tariffs put inflation targeting’s weakness on display.
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