It is quite clear that the markets understand Fed policy to a much better extent than before, ... My own view is that the market's improved understanding, and the Fed's efforts to improve clarity of monetary policy decisions, has much to do with the economy's improved stability. |
It is quite clear that the markets understand Fed policy to a much better extent than before. |
It is quite clear that the markets understand Fed policy to a much better extent than before. My own view is that the market's improved understanding, and the Fed's efforts to improve clarity of monetary policy decisions, has much to do with the economy's improved stability. |
It will be in the interest of future Fed chairmen to commit to pursue policy regularities that work well, |
Jerry, entertainment spending for sports may be a problem in Cleveland, but it is doing just fine in St Louis! |
Maintaining inflation stability is the central responsibility of the central bank. But we don't want to be in the situation of over-reacting and driving the economy down, |
Monetary economists have not yet developed a formal rule that is likely to have better operating properties than the Fed's current practice, |
Monetary economists have not yet developed a formal rule that is likely to have better operating properties than the Fed's current practice, ... Greenspan rule. |
My personal experience is that I find it exceedingly difficult to predict how people will interpret policy actions and the nuances of the press release. |
My view is that the economy is on a very solid track. As long as the inflation rate stays where it is there's no reason not to have the economy continue to grow. |
No one knows for certain whether the economy can escape an actual decline in real GDP, but the fact that we have done so to date and that many adjustments are now well along suggests that we have an excellent chance of doing so, |
Other economy-wide developments, especially income and employment growth, typically exert a much greater influence on the consumer's pocketbook and spending habits than does the state of the housing industry. |
Our aim is to keep inflation, in general, down. If I had to pick a point, it is to keep these broad measures in a one to two percent range. |
that one might reasonably regard as commercially significant. |
The fact that housing might turn a little bit weak is not a sign that economic growth is at risk, but rather that you have displacement from one sector to a different sector. |