The Economic Outlook And Monetary Policy, Federal Reserve Governor Christopher J. Waller, At The Global Interdependence Center s 39th Annual Monetary and Trade Conference, The LeBow College Of Business, Drexel University, Philadelphia, Pennsylvania (Via Webcast) Date
13/05/2021
Thank you, Kathleen, and thank you, George and the Global Interdependence Center, for the invitation to speak to you this afternoon. I am with you to talk about my outlook for the U.S. economy and the implications for monetary policy.1 In the last week we have received employment and inflation reports that have garnered a lot of attention. Incorporating this information into my outlook, I have two messages today. The first is that, despite an unexpectedly weak jobs report, the U.S. economy is hitting the gas and continuing to make a very strong recovery from the severe COVID-19 recession. Let s remember, and this applies to latest inflation data too, that a month does not make a trend the trend for th
A Florida man was sentenced today to more than six years in prison for fraudulently obtaining approximately $3.9 million in Paycheck Protection Program (PPP) loans and using those funds, in part, to purchase a $318,000 Lamborghini luxury car for himself.
David T. Hines, of Miami, pleaded guilty to one count of wire fraud on Feb. 10. According to court documents, Hines submitted multiple PPP applications to a PPP-participating lender, claiming to have had dozens of employees and millions of dollars in monthly payroll. In addition to submitting false and fraudulent IRS forms to support the applications, Hines also assisted other individuals in obtaining fraudulent PPP loans. As part of the sentence, the court ordered Hines to forfeit the $3.4 million in fraudulent loan proceeds that law enforcement seized and the 2020 Lamborghini Huracan that Hines purchased for approximately $318,000.
U.S. Economic Outlook And Monetary Policy, Federal Reserve Vice Chair Richard H. Clarida, At The NABE International Symposium: A Vision Of The Economy Post COVID, Washington, D.C. (Via Webcast) Date
12/05/2021
It is my pleasure to meet virtually with you today at the National Association for Business Economics International Symposium: A Vision of the Economy Post COVID.1 So much has happened since we last met in Washington in February 2020, but I am grateful that technology is allowing us to gather once again, if only virtually. I look forward, as always, to my conversation with Ellen Zentner, but first, please allow me to offer a few remarks on the economic outlook, Federal Reserve monetary policy, and our new monetary policy framework.
In a recent issue,
Time to be disingenuous at best and dishonest at worst, and as an academic economist, I have come to realize that after reading
Time off and on for more than five decades, this is a publication that rarely gets it right when it comes to economic analysis.
Yet, we also are dealing with a publication that effectively reflects whatever the current spirit might be. In the mid-1980s,
Time gave its readers the infamous cover condemning the bacon-and-eggs breakfast and gave massive publicity to the eat-more-carbs “experts.” America’s climb into obesity followed shortly afterward, and even
Patience And Progress As The Economy Reopens And Recovers, Federal Reserve Governor Lael Brainard, At The Road To Recovery And What s Next, A Virtual Conference Sponsored By The Society For Advancing Business Editing And Writing (Via Webcast) Date
11/05/2021
I want to thank Heather Long and the Society for Advancing Business Editing and Writing for inviting me to join you today.1
Strong fiscal support and increasing vaccination rates drove a strong rebound in activity in the first quarter, and the second quarter looks to be even stronger. The outlook is bright, but uncertainty remains, and employment and inflation are far from our goals. While more balanced than earlier this year, risks remain from vaccine hesitancy, deadlier variants, and a resurgence of cases in some foreign countries. The latest jobs report is a reminder that the path of reopening and recovery like the shutdown is likely to be uneven and difficult to predict, so basing monetary policy on outcomes rather