Simon Potter: US monetary policy normalization is proceeding smoothly

Remarks by Mr Simon M Potter, Executive Vice President of the Markets Group of the Federal Reserve Bank of New York, at the China Finance 40 Forum - Euro 50 Group - CIGI Roundtable, Bank of France, Paris, 26 October 2018.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Thank you for the invitation to participate in today's discussion about post-financial-crisis monetary policies.

My remarks today will focus on the implementation of monetary policy normalization. The Federal Open Market Committee (FOMC) has carefully developed and articulated a clear and transparent normalization strategy and is implementing that strategy. This approach has instilled confidence-a key to maintaining market stability, which has supported the orderly functioning of the broader set of dollar money market rates that are important to policy transmission and financial conditions.