Tom Schlesinger
Tom Schlesinger
academic clear students
He does have an academic background. He had to make things clear to undergraduate students, even if they were undergraduate students at Princeton.
bogged debate fed inflation internal merits targeting unhealthy
It would be unhealthy for the Fed to get bogged down in an internal debate about the merits and demerits of inflation targeting if it prevented
beginning bubbles bursting crash effect historic hit housing impossible local loop market obviously people save seem stock thrown views
People got thrown for a loop by the stock market crash at beginning of the decade. It doesn't seem impossible that local housing bubbles bursting would have an effect on people's views of savings. Obviously consumption would take a hit if people save at the historic rate.
bright chairman commenting directly draw drawn fed hearing issues line might related seen
He might try to draw a bright line in the hearing - say that he won't be drawn into commenting on issues not directly related to the Fed's responsibilities, ... We'll have to see how that plays. It is important that the Fed chairman be seen as independent.
price prove tough
As a group, they will have a sense they have something to prove and that what they have to prove is they can be tough on price stability.
alan anyone chairman fed greenspan purpose seldom
He's Alan Greenspan all purpose sage, ... He seldom has anyone tell him, 'Why don't you be more like Fed chairman of the past?'
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Greenspan is an orthodox thinker in most ways, but you have give him credit for questioning consensus thinking.
call leaves magician people policy political
There will be a perceptible political call by people for a more rule-bound policy after the magician (Greenspan) leaves the stage.
chance flexible gives rather term
It's a rather flexible term that gives them the chance to take many different actions,
boundaries fed forum gone issue ought public sure talking worth
More than any of his predecessors, he has gone public with every issue under the sun. I'm not sure there's a right answer, but I think it's worth talking about in a public forum what ought to be boundaries of the Fed governors' comments.
concern contrast labor past using
They are not using that possibility as a justification for their tightening campaign, in contrast to past years when there was a lot of concern about tightening labor market.
appear committee concerned federal labor market markets official open prospect speeches statements strong testimony wage
The Federal Open Market Committee does not appear from any of its official statements or from the speeches and testimony of its members, to be concerned about excessively strong labor markets or the prospect of wage inflation,