Regional President Speech

FEDERAL RESERVE SYSTEM: ISSUES AND CHALLENGES Silas Keehn I. Federal Reserve System is charged with promoting strong financial system and economic growth without excessive inflation. A. In 1986 economic performance was good in terms of GNP industrial output income employment B. But there is still significant stress in the financial system II. Major challenges facing the Federal Reserve System A. Conducting monetary policy to promote growth while avoiding inflation, in the face of international monetary concerns (third-world debt) our trade deficit financial system stress large and increasing corporate and consumer debt load federal fiscal budget deficit B. Maintaining sound financial and payments system in deregulated environment C. Implications for and importance of Fed independence Digitized for FRASER https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis II. As member of Governing Board of the Illinois Council on Economic Education, I understand the importance of economic education. A. Economic issues in spotlight 1. Debated in Congress, discussed in news media 2. Everyone makes economic decisions daily B. Resolving the issues facing our nation, with the deficit a prime example, requires a well-informed electorate 1. To make well-reasoned judgments, our citizenry needs a solid understanding of the workings of our economic system C. On an individual level--with deregulation in general, and in particular in the financial services industry - there is likewise a need for a better informed consumer D. For us at the Chicago Reserve Bank, teachers are the key to developing an informed public, the ultimate goal of this Bank's economic education program 1. We rely on you to prepare students for effective decision-making and citizenship. 2. We hope this course has stimulated your thinking about economic issues - provided you some added knowledge about how our economic system works - provided you with some tools you can use in your classroom. 3. We appreciate your spending time with us and wish you the best in giving students a conceptual framework for making economic decisions in their lives. Digitized for FRASER https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Digitized for FRASER https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ,~1k~ c 'L 1 , / R. ~ ~ ~!. ~.p~r-1 ~ - • i ,.tv,. ~ ~ el J/~. ~ ' c . N- 0 ~ ot,·~ - . .,_,~tf_) ~~~-~ ~ ,t,A'ol tit bl.,,,..JI ! ) ~ ~ f/ A ~ ~ ·:..X- • -~~ ·/, ~JuA.t:S ,L...t- -" , ~ ( S-'?6 O-N ~ ~. j..-v- Jo..{....,..tl f°l:J ~~,, ~ ~- T ~ ~,, :dctr t- I~~~. r P-f t:hJ.i-"°". -2~4 r. T~..J '2, t.,_A ~ •• It( ~llA.. - J ~ ~J l.,(. .t' ·1 g. }Zc'cJ( ~ 11'" .... -,JS" ~ ~ ()~&r-1 L(, Digitized for FRASER https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1/ ~o-~~ C ~-~~ C ~ ~~ Dd"C-t'~. /L F. ~ D ('" ? )( 7...rlflN I 'fl_ ~ ~ / ~~ ~ ~ , - ~ ~ - : A _ ~ .,~ ~ . t. ~ N~Ot ~ ' c, ~ ~ J . f), A.llv~ ~ (nt ~ ~5 .-- ~;J.r ~ J ~4,(,,v" 8 I .!IL c,1.-Js-J,,·~ t'f- ~ ,,rp,,..J:i;J·.£~~ J, ~'()~ b""~,.:s- ~ ~ ~·&. . , , ~ 1-~~r~~- J.., 1<9'--1P~ ~ - ~ c, /\Id- ~~~J I-~~ ~c...r Digitized for FRASER https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis r ~. ~ ~ , r ~ t Iv~ ~NO,, J ) . ~ ~ "'.s fz . ~ ">-Alu ../r - ~Cf F- "6__ lM-eLvf w-_.... .J. .r ~ • t. ( (.).)_(.~ ~ ~ 1-', &,~·r ~ - 1.~u::r~~I ~~ ~ ~ ~~ ~ «- r ~ -l'aJ- j-~~ ~~~ 0- I.~/,•~ '1-S· ~~~ ). . . ~.r4.,V~~ iffl ~ ~ ~ ~-~~ s. .CAA.,~ (.. ~•£.,, - ~- ~~- Digitized for FRASER 1-r~, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ?] ~- ~ ,:,-,~/~ tr·µ - (.~~~~ °'£ecN_ t'-~~u. .6 c.. ~ - ~ - ~ ~ ~~ # ,fw ~ F.c.el - - ~po,I,,~. A, ~ ~~ ~(~~~~ f"4 .' - ~ ~ ~ ~~r--~~b~ ,, Digitized for FRASER https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis F.~~~ r,v-o ( ~ ""-r,/ - ~ ' , ( ? ~ ~ ~ , 4 6c-4_o·s - f~~ 1'. ~o's - $''-I. c. ~ ~-:t-f .. °' ~( 1A-.,,.. '"-4 Co••4i:il 't....l, r • .~ ~ ~~. , 'i/'fE:_ _,_ ~ ,- ~ ~r~~,~­ f<YU-:;, • 'C<,..(_ ~~ 4 , ~ µ ~ ' y J ( . ~ ( ~~~ L? flP?! ~•c._( ' r fp)~ ~ /~H:c>,{5 .~ Digitized for FRASER https://fraser.stlouisfed.org ~ .- ~'-~ Federal Reserve Bank of St. Louis I ~ .f/<JA] ~- ~ 7/l.{ .2.. po-L,·r,Ut..( ~-~ ~re~ ~ vJ.-, ~~, C .. prut/t crd...t •.._ ~ , ,1t12; ,,.,. ~01(-, - t~ ~~} ~q}:i:.-,,t ( ' ~ , • Digitized for FRASER https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis

Silas Keehn (1987, April 14). Regional President Speech. Speeches, Federal Reserve. https://whenthefedspeaks.com/doc/regional_speeche_19870415_silas_keehn

@misc{wtfs_regional_speeche_19870415_silas_keehn,
  author = {Silas Keehn},
  title = {Regional President Speech},
  year = {1987},
  month = {Apr},
  howpublished = {Speeches, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/regional_speeche_19870415_silas_keehn},
  note = {Retrieved via When the Fed Speaks corpus}
}