This time, we're starting with an inflation rate that's too low and heading lower, ... What that means is the Fed will sit still until such time as it sees inflation start turning up -- which might not happen until late 2004 or early 2005. |
We still face a longer-range deficit problem and that will be exacerbated by increases in Medicare and Social Security payments, ... It would be helpful to bring our budget deficit down longer-term. I worry more about that than this temporary increase in the deficit. |
We've heard the reconstruction effort is putting pressure on prices of basic materials. |
What the Fed is trying to do, by being more transparent and more communicative, is highly desirable. But there are going to slips along the way. Ben will learn and the markets will learn. |
whoever they pick has a considerable degree of background and expertise on monetary policy. |