In the low-rate 2010's "It was easy for relatively inefficient companies to stay afloat, so there wasn't much creative destruction."
"I think they still have another hike in them at some point ... there is still more momentum in underlying inflation than we expected."
"You know where you want to go. You know where the summit is, but there are no more markers and you have to feel your way."
Kristin Forbes discusses her outlook for the economy and policy ahead of Federal Reserve Chair Jerome Powell's speech.
“There is a good chance that when things settle down, we’ll be back to a more normal equilibrium."
“The big moves in inflation are primarily global shocks. What the Fed has done has also contributed, without a doubt.”
“The big moves in inflation are primarily global shocks. ... What the Fed has done has also contributed, without a doubt.”
"Big picture: We are making progress, but the progress is slower than expected. Inflation is somewhat more stubborn than we had hoped."
"The biggest risk now is that inflation does not come down as quickly as expected."
"If you front-load [interest rate] hikes, it makes it harder to tell whether you need to wait a little longer to see the effects."
