Summary of The Economic Outlook and the Conduct of Monetary Policy

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Is the Federal Reserve making the right moves with monetary policy and interest rates? Some critics have suggested using rules-based approaches that would give the Fed less discretion in conducting monetary policy. Fed chair Janet L. Yellen weighs in on such aspects in a speech delivered at Stanford University, providing insight into the central bank’s decision-making process. getAbstract recommends this informative, accessible text to investors, policy makers and executives who want more clarity about the Fed’s interest rate-setting mechanisms.

In this summary, you will learn

  • What Federal Reserve chair Janet L. Yellen sees as the current state of the US economy,
  • What she forecasts for the economy and
  • What a rules-based approach to monetary policy entails.

About the Author

Janet L. Yellen is the chair of the Board of Governors of the Federal Reserve System.



The US labor market has improved considerably since the Great Recession. The unemployment rate is close to its “longer-run normal level.” Even the more comprehensive measure of “labor underutilization” – which counts those who labor part time because they can’t find full-time employment, as well as ...

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