Michael Moskow Policy Quotations

If inflation or inflation expectations were to rise persistently, then policy clearly would have to be tightened further,

There is no evidence the Fed is less effective in monetary policy

It is appropriate to maintain an accommodative monetary policy stance, in order to provide some insurance against unwelcome disinflation,

Inflation currently is near the upper end of the range that I feel is consistent with price stability. As such, I believe monetary policy must be vigilant.

It will take appropriate monetary policy to keep inflation and inflation expectations well contained. For me, at this time, such policy likely entails further removal of policy accommodation,

These gradual aggregate changes would allow time for any appropriate recalibration of policy -- if, in fact, one is needed,

For me, appropriate policy means that we continue to reduce accommodation and return to a neutral federal funds rate,

Even without an increase in inflation expectations, it will take appropriate monetary policy to keep inflation well contained,