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Kugler Says Inflation on Sustainable Path to Fed's 2% Goal

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Bloomberg Dec 3, 2024 10:27 · 6619 Views

Federal Reserve Governor Adriana Kugler says she's optimistic about the trajectory of inflation and the broader economic conditions during remarks at a Detroit Economic Club event.

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Transcript

  • 00:00 I view the economy has been in a good position
  • 00:04 after making significant progress in recent years.
  • 00:08 There is a dual mandate
  • 00:10 of maximum employment and a stable prices.
  • 00:14 The labor market
  • 00:16 remains solid
  • 00:17 and inflation appears to be in a sustainable path
  • 00:21 to our 2% goal,
  • 00:23 even if there have been
  • 00:25 bumps on the road along the way.
  • 00:27 Looking ahead, however,
  • 00:29 it is important to emphasize
  • 00:31 that policy is certainly not an appreciated path.
  • 00:36 I will make decisions meeting by meeting
  • 00:39 and carefully
  • 00:41 assessing new data that comes in.
  • 00:43 As I said, we have the jobs report coming this Friday
  • 00:46 and then we will have
  • 00:49 new inflation data, CPI and PPI data
  • 00:54 coming in the middle of December.
  • 00:56 Before our meeting,
  • 00:58 we will look at the evolving outlook
  • 01:01 and definitely the balance of risks, any new decisions that are made along the way.
  • 01:08 While I have gained more confidence that the two positive supply shocks I described have helped create this solid economic conditions
  • 01:16 that are currently in place,
  • 01:19 I will monitor very closely
  • 01:22 for incoming risks
  • 01:24 or negative supply shocks
  • 01:26 that may undo
  • 01:28 the progress that we have achieved in reducing inflation
  • 01:33 and maintaining a healthy level of economic activity.
  • 01:38 I view our current policy setting
  • 01:41 has been well positioned
  • 01:43 to deal with any uncertainties
  • 01:45 we face in pursuing both sides of our mandate and we will remain alert to those.