Tuesday, August 10, 2010

Fed Admits Economy Slowing Down

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"Gradual adjustment tends to characterize periods of rate increases as well as periods of decreases....in practice the FOMC seems to take a gradualist approach....Several arguments have been made for the desirability of a gradualist approach to monetary policy." ~Gradualism~ Remarks by Governor Ben S. Bernanke at an economics luncheon co-sponsored by the Federal Reserve Bank of San Francisco (Seattle Branch) and the University of Washington, Seattle, Washington May 20, 2004  >>LINK

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