I think monetary policy coming out of the 2001 recession did what it was intended to do, which was cushion the interest-sensitive sectors of the economy, including housing.
More Quotes from Jack Guynn:
At this point, I believe inflation and inflation expectations will be largely contained by competitive market forces and continuing adjustments to the stance of monetary policy,Jack Guynn
I don't want to see inflation move measurable higher.
Jack Guynn
Given the steady diet of 'measured' rate hikes the Fed has provided in the past year and a half, many of you may be wondering when enough is enough. Let me first respond by saying, the closer we get, the less explicit we can be on that point it's my personal opinion that as policymakers we should resist the temptation to say more than we know at any given time.
Jack Guynn
We're now at a point where we have removed a substantial amount of the extraordinary accommodation that was in place when we started this cycle. I still feel that we have a ways to go. We're well along on that path.
Jack Guynn
The Fed is firmly committed to resisting unwelcome rises in inflation.
Jack Guynn
We don't yet know the full economic effect of the policy moves we have already made. In the months ahead, we'll have to watch the data very carefully to make sure that growth is still on track and inflation expectations are well anchored.
Jack Guynn
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