Long-term economic growth depends mainly on nonmonetary factors such as population growth and workforce participation, the skills and aptitudes of our workforce, the tools at their disposal, and the pace of technological advance. Fiscal and regulatory policies can have important effects on these factors.

Over time, low rates can put pressure on the business models of financial institutions.

The main long-run contribution monetary policy can make is to provide a stable macroeconomic and financial environment.

Jerome Powell Quotes