Careful readers of FOMC communications will note that in addition to talking about actual inflation, the committee often talks about inflation expectations. Sandra Pianalto, the president and chief executive officer of the Federal Reserve Bank of Cleveland, explains the important role that...

In order to set monetary policy appropriately, policymakers need to assess current economic conditions, understand how the economy got to where it is, and have a good idea of where it is heading. Because economic conditions are always in flux, good communications are important to successful...

When the economy slows, monetary policymakers face pressure to deviate from their longer-term goals to address short-term problems. This Commentary argues that the Fed must stay focused on the long term—maintaining the stable purchasing power of the dollar. The Commentary is adapted from a...

While central bankers must focus on delivering price stability and other mandates in their own countries, they must also monitor international developments closely because national trade and financial markets have become increasingly interconnected. Sandra Pianalto, president and chief executive...

Central banks have done a very impressive job of achieving low and stable rates of inflation in recent years. But despite past successes, they must always be ready to deal with new challenges that might arise. Sandra Pianalto, president and CEO of the Federal Reserve Bank of Cleveland, discusses...

This Commentary is adapted from Ms. Pianalto's remarks at the annual forecast dinner of the Home Builders' Association of Greater Akron, January 27, 1999.

This Commentary contains an insider’s view of the decisionmaking process followed by the monetary policymakers of the FOMC. In particular, Sandra Pianalto, president and CEO of the Federal Reserve Bank of Cleveland and a member of the FOMC, describes her take on the objectives, principles, and...

Sandra Pianalto, president and chief executive officer of the Federal Reserve Bank of Cleveland, discusses the way the Federal Reserve System ensures that different regions of the country are represented in making monetary policy, describes the way our economy is changing, and suggests some ways...

The economy has been expanding for the past few years, but concerns are growing over the pressures placed on it by fiscal deficits, current account imbalances, and energy shocks. Sandra Pianalto, president and CEO of the Federal Reserve Bank of Cleveland, explains why she thinks the Federal...