Watch the following video of Federal Reserve Chairman, Jerome Powell, presenting the findings of the last Federal Open Market Committee Meeting on December 11, 2019. You can click on the FOMC Press Conference Video, December 11, 2019, and watch about the first 10 minutes of the overall press conference in the Videos section of the Federal Reserve website.
Federal Reserve Videos (Links to an external site.)
Once you have watched the video, discuss the following in 250+ words. Please use complete sentences, answer each question in detail and keep in mind grammar counts here.
Who was Paul Volcker and what is he best known for doing?
What was the Federal Reserve’s policy decision after this FOMC meeting? What have they done in the previous three meetings?
According to the Chairman, what goals does Congress set for the Federal Reserve?
What is their economic outlook and monetary policy outlook?
What is happening to the economic indicators that he discussed in the statement (the ones we have already studied: consumption (household spending), business investment, net exports, unemployment/labor market, inflation, trade, etc.)? Please discuss each of these indicators.
What, if any, concerns are there for for the future?
What has happened to the Unemployment Rate, the Labor Force Participation Rate and Wages?
Who has been affected by employment gains according to the Chair?
What is the Federal Funds Rate (you may need to look this one up in the book/power point) and what is the current % target Federal Funds Rate?
What expectations does the Federal Reserve have about future inflation?
What has happened to the relationship between inflation and unemployment in the last 50 years?