How long it takes to unwind from all of that, I don't know, but it ought not to be viewed as an objective of monetary policy to try to stabilize price fluctuations of that sort,
More Quotes from William Poole:
Maintaining inflation stability is the central responsibility of the central bank. But we don't want to be in the situation of over-reacting and driving the economy down,William Poole
We've been on a course of raising interest rates. The language in the last (Federal Open Market Committee) statement suggests that there was more to come...If we had wanted a different interpretation, we would have said something different,
William Poole
I see no reason why we should not see a similarly benign inflation outcome this year,
William Poole
I have no doubt that both the (policy-setting) FOMC (Federal Open Market Committee) and the market would respond to surprises in core inflation that seem likely to persist and to indicate a developing inflation problem,
William Poole
I think the inflation risks around the point estimate are skewed to the high side ... I would put a higher probability on an upside surprise,
William Poole
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