For me, it was difficult to conclude that more monetary expansion would assure a sustained recovery, and while there may be events that may slow economic growth, those events are related to other real factors. As the United States continues to ease policy into its recovery, once again there are signs that the world is building new economic imbalances and inflationary impulses.
The Federal Reserve contributes to the nation’s economic performance in part by using monetary policy to help achieve our mandated goals of maximum employment and price stability. But success in promoting these objectives does not, by itself, ensure a strong pace of long-run economic growth or substantial improvements in future living standards.