What it suggests is that, if you smooth through the noise in the data, we are getting increasing confirmation that something fundamentally important did happen in the latter half of the 1990s, and it gives us some confidence looking into the future, |
What they perceive as newly abundant [cash] can readily disappear, |
What they perceive as newly abundant liquidity can readily disappear, |
Whatever you tax, you get less of. |
when we are at neutral, we will know it. |
When we see significant, dramatic changes ... we are skeptical as indeed we should be, ... bring together all of the facts we can marshal and the most sophisticated insights to explain those facts that we can. |
Whether those adjustments are wrenching will depend ... on the degree of economic flexibility that we and our trading partners maintain, and I hope enhance, in the years ahead, |
While (Japan) has made some important efforts, it has yet to make significant progress in diversifying the financial system, |
While actual CPI inflation has picked up this year, this rise has not been mirrored uniformly in other broad price measures, |
While the adjustments may be difficult for a time, these crises will pass. Stronger individual economies and a more robust and efficient international economic and financial system will surely emerge in their wake, |
While these forms of protection have often been imposed under the label of promoting so-called 'fair trade,' oftentimes they are just simple guises for inhibiting competition. |
While this stellar non-inflationary economic expansion still appears remarkably stress-free on the surface, there are developing imbalances that give us pause, |
While, three months ago, it was clearly a desirable action ... we didn't [pass a stimulus bill], ... Fortunately it turned out we didn't need that particular [action]. |
will almost surely be reported as one of the largest advances, if not the largest, posted over the past 30 years. |
will undoubtedly be a drag from now on. |