He does have an academic background. He had to make things clear to undergraduate students, even if they were undergraduate students at Princeton.
More Quotes from Tom Schlesinger:
I would be nervous about picking an inflation-targeting champion as my next Fed chairman given the potential impact on employment growth.Tom Schlesinger
It will come at a really interesting time because the Fed has been so much more successful in recent years than central banks in countries that favored a more rule-oriented approach. One has to wonder why the Fed would abandon the approach that has worked so well.
Tom Schlesinger
There will be a perceptible political call by people for a more rule-bound policy after the magician (Greenspan) leaves the stage.
Tom Schlesinger
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,
Tom Schlesinger
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.
Tom Schlesinger
The yields indicate that markets aren't concerned about inflation or that they're confident that the Fed is on the job and will contain it. But there's some sort of subconscious, collective belief that sustained manageable inflation is too good to be true and eventually the other shoe will drop.
Tom Schlesinger
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