This step would in no way reduce the importance of maximum employment as a policy goal, ... In any case, I assure this committee that if I am confirmed, I will take no precipitate steps in the direction of quantifying the definition of long-run price stability. This matter requires further study at the Federal Reserve as well as extensive discussion and consultation.
More Quotes from Ben Bernanke:
the policies and policy strategies established during the Greenspan years.Ben Bernanke
It's been a resilient economy, it's responded well and job creation has proceeded apace.
Ben Bernanke
Quantitatively, outsourcing abroad simply cannot account for much of the recent weakness in the U.S. labor market and does not appear likely to be an important restraint to further recovery in employment,
Ben Bernanke
can account for the bulk of the recent increase in the real price of gold.
Ben Bernanke
Indeed, I would argue that, in situations of considerable slack, growth that is generated solely by increased productivity, and that is unaccompanied by substantial employment growth, may possibly require monetary ease, rather than monetary tightening, in the short run.
Ben Bernanke
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Based on Topics: Definition Quotes, Goals QuotesBased on Keywords: long-run, precipitate
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