"Governor Jefferson outlines new monetary policy strategy in speech"

Governor Jefferson discussed the current inflation and economic situation, credit conditions in response to recent bank stress events, and normative thoughts about strategic monetary policymaking in highly uncertain environments. He argued that current monetary policy is "on track" in achieving what is necessary or expected, despite high inflation and uneven disinflation. He also shared strategic principles for monetary policymaking, including being ready to react to a wide range of economic conditions, clearly communicating policy decisions, and continuously updating priors about how the economy works.