Jack Guynn
Jack Guynn
Jack Guynn was the President and CEO of the Federal Reserve Bank of Atlanta from 1996 to 2006. He has retired from that position and been appointed to Oxford Industries, Inc.'s Board of Directors...
closer diet explicit fed given hikes less opinion past personal provided rate resist respond steady temptation wondering year
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.
inflation measurable move
I don't want to see inflation move measurable higher.
cause concerned moment
I don't see anything at the moment to cause me to be unduly concerned
coming cushion including intended monetary policy recession
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.
additional balanced hold moves speaking whether
I don't think it is possible, speaking for myself, to know whether there will need to be additional tightening moves or whether we are at a place we can hold for a while. We are at a balanced point.
committed fed firmly rises unwelcome
The Fed is firmly committed to resisting unwelcome rises in inflation.
closer explicit less
The closer we get, the less explicit we can be on that point.
along amount point ways
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.
economic five kick maybe pick quick rebuilding spread ten time usual
What we now know is that a rebuilding kick is going to be spread out -- pick a time -- five years, maybe even ten years. We are not going to get the usual quick economic impact.