Anthony Santomero
Anthony Santomero
adjustment cannot current interest level maintained near policy rates
The current level of short-term interest rates cannot be maintained indefinitely, ... However, any policy adjustment need not take place in the near future.
dual employment environment firmly full mandate price remains stable
Our dual mandate of fostering full employment and a stable price environment remains firmly in place,
chairman confident greenspan passing smooth successor torch
I am confident that the passing of the torch from Chairman Greenspan to his successor will be smooth and seamless.
appears close neutral policy
Our policy appears to be close to neutral now.
adjustment near policy
Any policy adjustment need not take place in the near future,
demand itself oil pressure price puts seen side supply
As we have seen with oil and gas, the supply side impairment itself automatically puts upward pressure on prices. Simultaneously stimulating demand would only exacerbate those price pressures,
acceptable confident economic level number transition
A number of sectors will need to transition before we can be confident of an acceptable level of economic activity.
change continue deliver forces generate system ways
our payments system will continue to change as evolutionary forces generate new innovations in payments and new ways to deliver them.
current geared moving neutral shift
shift gears, moving from its current stance, geared to stimulating a recovery, to a more neutral stance.
appears based change checks evolving finally might paper pattern radical
It appears our nation's pattern of payments is finally evolving - some might say it is experiencing a radical change - from one based on paper checks to one based on electronics.
current economy ground lost
Indications are that the economy is making up much of the lost ground in the current quarter.
appears close monetary moving neutrality policy toward
We have been moving monetary policy toward neutrality for some time, and our policy appears to be close to neutral now.
annual bit course domestic further gross growth moderate outlook product settling year
The outlook is for real gross domestic product to moderate a bit further over the course of the year and next, settling at a sustainable 3.0 pct annual growth pace.