Over the period ahead, as the full effects of the sequence of monetary policy moves plays out, I expect that output growth will settle on a path that is somewhat below what we saw in the first quarter, probably growing at close to the economy's potential.
More Quotes from Jack Guynn:
The Fed is firmly committed to resisting unwelcome rises in inflation.Jack Guynn
I don't want to see inflation move measurable higher.
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
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.
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
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