Jack Guynn Monetary Quotations

I think monetary policy coming out of the 2001 recession did what it was intended to do, which was cushion the interest-sensitive sectors of the economy, including housing.

Over the period ahead, as the full effects of the sequence of monetary policy moves plays out, I expect that output growth will settle on a path that is somewhat below what we saw in the first quarter, probably growing at close to the economy's potential.

At this point, I believe inflation and inflation expectations will be largely contained by competitive market forces and continuing adjustments to the stance of monetary policy,