Laurence Meyer
Laurence Meyer
Laurence Meyeris an economist and was a United States Federal Reserve System governor from June 1996 to January 2002...
overall percent reduce
They could reduce tumors 88 percent overall and they could reduce 100 percent of cancerous tumors.
difficult economic model
He didn't think about the economic world the way most of us do. It made it difficult for him to communicate. His model was fundamentally different from everyone else's. That is what we'll miss.
below employment fed payroll slow study
If the Fed study is right, payroll employment would have to slow to well below that.
aggregate balance demand distinct further higher inflation labor markets product risk suggest supply today
The balance of aggregate demand and sustainable supply today and the distinct possibility that labor and product markets will tighten further suggest an unacceptable risk of overheating and, therefore, higher inflation in the future,
chairman everybody favor game knew start
When the chairman made his recommendation at the start of the go-round, the game was up, it was over. Everybody knew what the chairman would be in favor of.
cause cutting early economy fed grew growth half investment near occurred percent quarter rates rebound strong time year
We got a lot more growth in the first quarter of 2002 than occurred in the first year after the 1990-91 recession, ... The economy grew near 4 percent in the first half of this year. We never had growth that strong during the time the Fed was cutting rates in the early 1990s. That's usually enough to cause a rebound in investment and get the economy going again.
fundamentals demand limits
The Broader interpretation that often seems to underlie the new economy label is that we are witnessing a more fundamental change in the paradigm. The old rules no longer apply. Throw out the NAIRU. Heck, throw out supply and demand. No limits, no business cycles.