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Since I’ve become a central banker, I’ve learned to mumble with great incoherence.

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Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset.
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The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses…
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Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
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Given our inevitably incomplete knowledge about key structural aspects of our ever-changing economy and the sometimes asymmetric costs or benefits of particular outcomes, a central bank.
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Revolutions are something you see only in retrospect.
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How do we know when irrational exuberance has unduly escalated asset values?
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Escalate Exuberance Irrational Unduly Value
Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
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Consensus Cut Fiscal Irresponsible Policy Tax Trigger View
If we are dealing with psychology, then the thermometers one uses to measure it have an effect.
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Senator, if I seem clear to you, you must have misunderstood me’.
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Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
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Able Archive Been Clarity Emotively Future Pre Regulator Require
Gold, unlike all other commodities, is a currency…and the major thrust in the demand for gold is not for jewelry.
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Gold still represents the ultimate form of payment in the world.
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Gold Payment Represent Ultimate World
Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
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Then fear hits, and it comes down very sharply. When I started to look at that.
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But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
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Any informed borrower is simply less vulnerable to fraud and abuse.
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