Easy Money Quote Of The Day: Fed "Won't Take The Punch Bowl Away"

Numerous Fed presidents made speeches this week. I award gold, silver, and bronze medals for the best "easy money" quotes.

Easy Money Quotes

  • Fed Chair Jerome Powell: In an interview with National Public Radio’s “Morning Edition” program on Thursday, Powell said that even with the economy rebounding faster than expected, any change in monetary policy would happen “very, very gradually over time and with great transparency, when the economy has all but fully recovered.”
  • Fed Vice Chair Richard Clarida: Speaking on Thursday to the Institute of International Finance, Clarida said the central bank will stay in the game until the recovery is “well and truly complete.”
  • Fed Governor Lael Brainard: Before any shift in monetary policy Brainard promised “resolute patience”. 
  • San Francisco Fed President Mary Daly: She said the central bank would show at least “a healthy dose” of patience. ”We are not going to take this punch bowl away,” said Daly.
  • Richmond Fed President Thomas Barkin: In an interview with Reuters on Wednesday Barkin said that the United States may well see economic growth remain above trend for several years given the amount of pent-up demand. Nonetheless, Barkin said “What matters is what outcomes we actually get. I am going to see where we go. I am not trying to overthink the date (of any policy change). I am trying to think about the outcome.”

The above quotes are excerpts from Fed officials press promise of complete recovery.

Short Synopsis

Powell: Monetary Policy will change “very, very gradually over time and with great transparency when the economy has all but fully recovered.”

Clarida: Monetary Policy will not change until the recovery is “well and truly complete.

Brainard: Promised “resolute patience.

Barkin: Pledged to not "overthink the date." 

1 2
View single page >> |
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.