Edward Gramlich
Edward Gramlich
Edward M. Gramlichwas a professor of economics at the University of Michigan and a former member of the Board of Governors of the Federal Reserve...
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These are hard decisions, and I certainly feel for the affected employees, ... At the same time, the loan board has a responsibility to taxpayers, and to fostering the long-term health of the airline industry. Given our conclusion that the business plan submitted by the company is financially unsound, I believe it best not to approve the United proposal.
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If you want to keep politicians out of the Fed's business, which we do, then we ought to stay out of their business. That's one viewpoint.
several weeks
I think it is more than several weeks for me!
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I think that Greenspan does have a very good intuitive sense of the economy, and the hardest thing with central banking is dealing with turning points,
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It's the hardest type of thing for monetary policy. There's no right answer. You're going to have to make something worse.
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I think his departure is more a sign of stability and consensus at the Fed than a reflection of disagreement.
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We needed some bankers. Presidents have realized that you're better off leaving the Fed alone, by getting good people over there and letting them manage the economy.