US FOMC Member Kugler Speaks
Federal Reserve FOMC members vote on where to set the nation's key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy;
FOMC voting member Sep 2023 - Jan 2026;
- History
Expected Impact / Date | Description |
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Oct 15, 2024 | Due to speak at a virtual event about Career Opportunities and Diversity in Economics. Audience questions expected; |
Oct 8, 2024 | Due to speak at the ECB Conference on Monetary Policy, in Frankfurt; |
Sep 26, 2024 | Due to participate in a virtual fireside chat at the Federal Reserve Bank of Boston's Financial Inclusion and Banking Supervision Workshop; |
Sep 25, 2024 | Due to speak about the economic outlook at the Harvard Kennedy School, in Cambridge. Audience questions expected; |
Jul 16, 2024 | Due to deliver closing remarks at the Economic Measurement Seminar hosted by the National Association of Business Economists, in Washington DC. Audience questions expected; |
Jun 18, 2024 | Due to speak about the economic outlook and monetary policy at an event hosted by the Peterson Institute for International Economics, in Washington DC. Audience questions expected; |
May 18, 2024 | Due to deliver a commencement speech at the University of Virginia, in Charlottesville; |
Apr 4, 2024 | Due to speak about enriching data and analysis in economics with real life experiences at the Women in Economics Symposium, in St Louis; |
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- US FOMC Member Kugler Speaks News
post: FED'S KUGLER: I WILL SUPPORT ADDITIONAL RATE CUTS IF PROGRESS ON INFLATION CONTINUES AS EXPECTED. post: FED'S KUGLER: OUR APPROACH TO ANY POLICY DECISION WILL CONTINUE TO BE DATA DEPENDENT. post: FED'S KUGLER: IF DOWNSIDE RISKS TO EMPLOYMENT ESCALATES, CUTTING RATES MORE QUICKLY MAY BE APPROPRIATE. post: FED'S KUGLER: HURRICANE HELENE AND MIDDLE EAST EVENTS COULD AFFECT THE US ECONOMIC OUTLOOK. post: FED'S KUGLER: IF INCOMING DATA DO NOT PROVIDE CONFIDENCE INFLATION IS MOVING TOWARD 2%, SLOWING NORMALIZATION MAY BE APPROPRIATE.
Boston Fed President Susan M. Collins will host a fireside chat with Federal Reserve Governor Adriana D. Kugler focused on the intersection between bank supervision and financial inclusion.
post: FED'S KUGLER: I WILL SUPPORT ADDITIONAL RATE CUTS GOING FORWARD IF PROGRESS ON INFLATION CONTINUES AS I EXPECT.
Thank you, John, and thank you for the opportunity to speak here today.1 It is good to be back at the Kennedy School and in particular at the Mossavar-Rahmani Center, which has a long tradition of engaging on important policy issues. In my remarks today, I will provide my outlook for the U.S. economy and the implications for monetary policy. The combination of significant ongoing progress in reducing inflation and a cooling in the labor market means that the time has come to begin easing monetary policy, and I strongly supported the decision last week by the Federal Open Market Committee (FOMC) to cut the federal funds rate by 50 basis points. While future actions by the FOMC will depend on data we receive on inflation, employment, and economic activity, if conditions continue to evolve in the direction traveled thus far, then additional cuts will be appropriate. I will begin by summarizing where we stand on inflation, including details on how the different components of inflation have changed over time, since these facts form the basis for my judgment on where inflation is headed. I will then talk about the recent cooling in the labor market and the forces driving it as well as how shifts on this other side of our mandate fit into the overall economic outlook for the rest of this year. I will conclude with the implications of all this for appropriate monetary policy and our focus on our dual mandate. Inflation based on personal consumption expenditures (P post: FED'S KUGLER: I STRONGLY SUPPORTED US CENTRAL BANK'S 50-BASIS-POINT INTEREST RATE CUT. post: FED'S KUGLER: THERE HAS BEEN A SIGNIFICANT MODERATION IN LABOR MARKET RECENTLY, AFTER A REMARKABLE PERFORMANCE OVER PAST FOUR YEARS. post: FED'S KUGLER: I ESTIMATE PERSONAL CONSUMPTION EXPENDITURES INFLATION AT 2.2% IN AUGUST, CORE PCE AT 2.7%, CONSISTENT WITH ONGOING PROGRESS TOWARDS 2% GOAL. post: FED'S KUGLER: THE FED NOW MUST BALANCE ITS FOCUS TO CONTINUE TO MAKE PROGRESS ON DISINFLATION WHILE AVOIDING UNNECESSARY PAIN, WEAKNESS IN ECONOMY.
post: FED'S KUGLER: THE FED DOES NOT WANT THE LABOR MARKET TO COOL TOO MUCH. post: FED'S KUGLER: I AM WATCHING DATA INCREDIBLY CLOSE GIVEN IT CAN WEAKEN FAST.
Thank you for your generous introduction, Ellen. I am delighted to be here with the National Association for Business Economics (NABE), and, in particular, I am pleased to be speaking at a conference covering an issue that is close to my heart and on which I have spent many years working: economic measurement. When Federal Reserve officials tell audiences that their judgments are data dependent, some skeptics perhaps presume that monetary policy is already on a path set in stone. But most in this room likely know what I mean when I talk about data dependence. I am a member of the Federal Open Market Committee (FOMC), which, of course, pursues a dual mandate of maximum employment and stable prices.1 When I say I am data dependent, that means I am considering the totality of the data—the full range of economic indicators that provide a sense of where the labor market, economic activity, financial conditions, and inflation have been and where they might be going. Policymakers must have high-quality and accurate data to understand the economy and set the correct policy. The truth is that it is not just the Fed that needs data. Consumers, businesses, investors, and others have access to more information than ever before when making decisions. It is incumbent on economists, private- and public-sector data collectors, and others to ensure that available data are carefully collected, accurately measured, and clearly presented, and that data collection and measurement efforts are further enhanced and continue to improve. To be sure, data post: FED'S KUGLER: UPSIDE RISKS TO INFLATION, DOWNSIDE RISKS TO EMPLOYMENT HAVE BECOME MORE BALANCED post: FED'S KUGLER: IF LABOR MARKET COOLS TOO MUCH, IT WILL BE APPROPRIATE TO CUT INTEREST RATES 'SOONER RATHER THAN LATER' post: FED'S KUGLER: IF INCOMING DATA DON'T PROVIDE CONFIDENCE THAT INFLATION IS MOVING TOWARD 2% TARGET, IT MAY BE APPROPRIATE TO HOLD RATES STEADY 'A LITTLE LONGER' post: FED'S KUGLER: INFLATION HAS CONTINUED TO TREND DOWN, DESPITE 'A FEW BUMPS' AT START OF THIS YEAR
A chorus of Federal Reserve officials on Tuesday emphasized the need for more evidence of cooling inflation before lowering interest rates, with a couple policymakers offering insight into the potential timing of such a move. Fed Governor Adriana Kugler said it will likely be appropriate for the central bank to cut rates “sometime later this year” if economic conditions unfold as she anticipates. St. Louis Fed President Alberto Musalem said in his first major policy speech that it could take “quarters” for the data to support a cut. ...
Inflation could moderate further without a significant cost to jobs or economic growth this year, setting the stage for “some” cuts in borrowing costs, Federal Reserve Governor Adriana Kugler said. Weaker consumer spending should help slow economic growth to below last year’s 3.1% pace, Kugler said, and demand for workers is easing as well. “With demand growth cooling, given the backdrop of solid supply, my baseline expectation is that further disinflation can be accomplished without a significant rise in unemployment,” Kugler said ...
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