Esther L. George

President, Federal Reserve Bank of Kansas City

 

Joined the Federal Reserve: October 1, 2011

Statements

   
Summary Lean Statement Date Publication Date
1  Fed's George Urges FOMC to Keep March on the Table for Rate Hike: "Federal Reserve policy makers should be prepared to consider raising interest rates in March despite recent financial market volatility, said Kansas City Fed President Esther George, whose outlook for solid growth this year remains intact. “It absolutely should be on the table” at the next meeting, George told Pimm Fox and Kathleen Hays in a Bloomberg Radio interview Tuesday from the bank. “At this point I would not say that the data have suggested there has been a fundamental shift in the outlook.”" Hawkish February 23, 2016 February 23, 2016
2  The U.S. Outlook and Monetary Policy: "If we wait for the data to provide complete confirmation before making a policy decision, we may well have waited too long. Likewise, policy may be faced with altering its trajectory if the economy’s progress points to a different outlook. But in the absence of any substantial shift in the outlook, my view is that the Committee should continue the gradual adjustment of moving rates higher to keep them aligned with economic activity and inflation. These actions are often difficult, but also necessary to keep growth in line with the economy’s long-run potential and to foster price stability." Hawkish February 2, 2016 February 2, 2016
3  Fed’s policy shift finds KC’s Esther George back in the voting rotation: "“It’s late,” George said of the Fed’s December interest rate boost in an interview two days after the event. “We’ve been at zero for a long time.”" Hawkish December 18, 2015 January 12, 2016
4  Raising Interest Rates: Heartaches by the Number: "“The language has shifted from ‘patient’ to ‘data-dependent,’ ” George says. “No matter when it happens, in my view, it’s time. The sooner we start, the more options we’ll have for a gradual move. Waiting for an all-clear signal raises a risk of other issues arising.”" (It isn't clear on which date George made this statement.) Hawkish November 25, 2015 November 25, 2015
5  Oklahoma, U.S. economies headed in opposite directions, expert says: "George, who is a nonvoting member this year, said she would have already voted to raise interest rates. The federal funds target rate has been between zero and 0.25 percent since late 2008. George said zero interest rates are not a historically normal rate. "It is time, when you have had an expansion for five years, to get off of zero interest rates," George said." Hawkish November 5, 2015 November 6, 2015
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