Former Fed President Lockhart on Rate Hikes, Jay Powell

The transcript discusses the Federal Reserve's potential rate hikes in 2018, analyzing economic conditions and inflation risks. It covers the transition from Janet Yellen to Jay Powell as Fed Chair, highlighting Powell's confidence and strategic priorities. The discussion also touches on potential economic risks and Powell's expertise in financial stability and bank regulation.

What is the base case for the number of rate hikes expected in 2018?

• Five

• Four

• Three

• Two

How does the committee view the current economic situation?

• Overheating

• Unpredictable

• Stable and comfortable

• In recession

What is the committee's stance on the urgency of raising the policy rate?

• It must be raised immediately.

• It should be eliminated.

• There is no urgency.

• It should be lowered.

What is the general expectation regarding the transition from Janet Yellen to Jay Powell?

• It will be turbulent and unstable.

• It will lead to immediate policy changes.

• It will be smooth and stable.

• It will cause market panic.

What is one of Jay Powell's initial tasks as the new Chair of the Federal Reserve?

• Changing the committee's structure.

• Implementing new monetary policies immediately.

• Preparing for his first press conference.

• Reducing interest rates.

What is a potential risk that the Federal Reserve is monitoring as Jay Powell takes over?

• Economic stagnation

• Inflation overshoot

• Decreasing employment rates

• Deflation

What expertise does Jay Powell bring to his role as Chair of the Federal Reserve?

• International trade

• Financial stability and bank regulation

• Healthcare policy

• Environmental policy