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Last Updated: 09/28/16

Lower for Longer in Today’s Banking Environment

A speech delivered on September 28, 2016, at the Community Banking in the 21st Century Research and Policy Conference in St. Louis, MO.


Bernanke, Ben, 2005, “The global saving glut and the U.S. current account deficit,” remarks of Federal Reserve Governor at the Sandridge Lecture, Virginia Association of Economists, Richmond, VA, March 10.


Board of Governors of the Federal Reserve System, 2015, “Open market operations,” report, December 15.


Byrne, David M., John G. Fernald and Marshall B. Reinsdorf, 2016, “Does the United States have a productivity slowdown or a measurement problem?,” Federal Reserve Bank of San Francisco, working paper, No. 2016-03, April.


Federal Open Market Committee, 2016a, “Statement on longer-run goals and monetary policy strategy,” Washington, DC, as amended effective January 26.


Federal Open Market Committee, 2016b, Summary of Economic Projections, Washington, DC, September 21.


Federal Open Market Committee, 2012, press release, Washington, DC, January 25.


Fernald, John G., 2016, “Reassessing longer-run U.S. growth: How low?,” Federal Reserve Bank of San Francisco, working paper, No. 2016-18.


Gordon, Robert J., 2016, The Rise and Fall of American Growth: The U.S. Standard of Living since the Civil War, The Princeton Economic History of the Western World, Princeton, NJ: Princeton University Press.

Greenspan, Alan, 2005, testimony of the Federal Reserve Chairman before the U.S. Senate, Committee on Banking, Housing and Urban Affairs, Washington, DC, February 16.


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