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As U.S. economic conditions have improved, monetary policy discussions have shifted toward overall normalization and a "liftoff" of the federal funds target rate from the near-zero levels that have been in place for the past several years. In the latest event in the Dialogue with the Fed series, Stephen Williamson, St. Louis Fed vice president and economist, provided a historical overview of monetary policy in the U.S. and the implications of the Fed returning to a more normal monetary policy stance.
This presentation wrapped up with an audience Q&A session. Williamson was joined by moderator Cletus Coughlin, senior vice president and chief of staff to St. Louis Fed President James Bullard, and Christopher Waller, senior vice president and director of research.