The economic outlook: A conversation with the Fed’s Randal Quarles

As the U.S. economy recovers from the unusual COVID-19 recession, the Federal Reserve vows to keep interest rates near zero and maintain the pace of its quantitative easing until “substantial further progress” has been made towards its goals of maximum sustainable employment and 2 percent inflation. On May 26 at the Hutchins Center on Fiscal & Monetary Policy, Randal Quarles, the Fed’s vice chair for supervision, discussed his outlook for the economy and its progress towards the Fed’s goals.

Following his remarks, Quarles joined a panel to discuss the economy, as well as financial regulation and financial stability. Quarles has been on the Fed board since October 2017. His term as a governor runs to 2032, but his term as vice chair for supervision ends on October 13, 2021. He also chairs the Financial Stability Board, an international body that monitors and makes recommendations about the global financial system.

During the live event, the audience submitted questions for Quarles and panelists at sli.do using the code #QuarlesBrookings, and joined the conversation on Twitter using the hashtag #QuarlesBrookings.