He'd like to bring in inflation targeting. (But) he must build consensus to do so and he doesn't have consensus now. I think he's going to make a smooth transition, but it's going to be an evolution in policy change.
More Quotes from Diane Swonk:
It adds up on paper to look a lot better than what it feels to people, ... not as many people are sharing in the economic gains.Diane Swonk
As auto sales taper off, we'll see a reallocation of spending. A resolution of the Iraq situation will cause a relief rally and get companies to invest back into the business, ... Also, oil prices will plummet and that typically stimulates real income growth.
Diane Swonk
Iraq and corporate governance issues have bogged down capital investment decisions. We're seeing companies that are ready to go they're just waiting for a sign.
Diane Swonk
I think this is clearly the Fed saying 'we're willing to take out an insurance policy, we're not willing to risk recession',
Diane Swonk
The conference takes Fed staff and academics out of their ivory tower ... It's the unique mix of those individuals that's the beauty of it.
Diane Swonk
The Fed will sit on its hands. There's really no reason to do otherwise. The economy's falling into place as the Fed thought -- it's in a soft spot, with some light at the end of the tunnel.
Diane Swonk
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Percy Bysshe Shelley
I was leaving probably one of the greatest organizations in hte world at that time for what was probably one of the least like, and, by God, this is America.
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