The vast majority of homeowners have a sizable equity cushion with which to absorb a potential decline in house prices, |
The vast majority of homeowners have a sizable equity cushion with which to absorb a potential decline in house prices. |
The very few times which we have intervened have occurred, ... when we believe the markets are unstable and that intervention might have an impact. |
the weight of incoming evidence persuasively suggest on oncoming intensification of inflation pressures. |
The word 'measured' is more of a plan than a pledge, |
There appears to be enough evidence, at least tentatively, to conclude that our strategy of addressing the bubble's consequences rather than the bubble itself has been successful, |
there are mechanisms in place that should help to slow the growth of spending to a pace more consistent with that of potential output growth. |
There are no easy choices. Easy choices are long gone, |
There are powerful reasons to suspect that the elimination of the double taxation of dividends and cuts in marginal tax rates will elevate long-term productivity, ... If, however, in the process we get a significant increase in deficits, which induce a rise in long-term interest rates, that will be a significant undercutting of the benefits achieved by tax cuts. |
There are sound reasons for concluding that the long-run picture remains bright ... but I would emphasize that we continue to face significant risks in the near term, |
There are sound reasons for concluding that the long-run picture remains bright, and even recent signals about the current course of the economy have turned from unremittingly negative through the late fall of last year to a far more mixed set of signals recently, ... But I would emphasize that we continue to face significant risks in the near term. |
There are various competing explanations, ... the extraordinary surge in technological innovation has yielded a sharply higher return in investments. |
There do appear to be, at a minimum, signs of froth in some local markets, |
There have been signs recently that some of the forces that have been restraining the economy over the past year are starting to diminish and that activity is beginning to firm, |
There is a limit to how long and how far deficits can be sustained, |