Lael Brainard is on the Fed’s Board of Governors is speaking to the Community Bankers Roundtable in Scranton, Pennsylvania:
Thank you to my colleague Pat Harker for the invitation to join him here this evening. In my time at the Federal Reserve, I have found that hearing directly from people around the country about how their communities are experiencing the economy is vital to carrying out my responsibilities. It helps me to understand what is working well and what the challenges are, and it provides ideas on how to improve economic opportunities. Today I look forward to hearing your perspective on the economy and the banking business in and around Scranton.
- Says downside risks, soft inflation argue for easing monetary policy.
- Says judgment on appropriate path of rates will depend on evolution of data, risks.
- Says economy is growing solidly.
- Says financial markets supportive of growth.
- Says capital spending is lackluster, business sentiment soft.
- Business sentiment, investment are sensitive to trade, global outlook uncertainty.
- Says downside risks, if they materialize, could weigh on economic activity.
- Says she’s mindful that financial imbalances are growing, should address with countercyclical capital buffers, stress tests, monitoring of leveraged lending.
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