After the 2008 financial crisis whipped through the US economy, bringing down both institutions and individuals, the Federal Reserve’s monetary policy played a critical part in bolstering the recovery. The interventions were effective, but San Francisco Fed president John C. Williams says it’s now time for the central bank to step back and let other growth drivers in both the public and private sectors take its place. In this candid speech, he offers his thoughts on how the Fed can and should influence the future economic landscape. getAbstract recommends this authoritative commentary to policy makers, investors and executives.
In this summary, you will learn
- How US monetary policy has performed since the 2008 financial crisis,
- Why the Federal Reserve can no longer drive GDP growth, and
- What policy makers and others must do to boost economic growth in the United States.
About the Author
John C. Williams is president and CEO of the Federal Reserve Bank of San Francisco.