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We cannot rule out a situation in which a preemptive policy tightening becomes necessary.

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Necessary Out Policy Preëmptive Rule Situation Tight

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The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake.
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Able Content Leave Measure Own Succeeded True
And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
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Destruction Mass Over Publicize Weapon Whatever
We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past.
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Earning Exhibited Inflation Inverse Past Price Ratio Relationship See
If we are to remain preeminent in transforming knowledge into economic value, America’s system of higher education must remain the world’s leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.
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Economic Knowledge Preeminent Remain Transform Value
Need to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path.
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Consider Distribution Economy Future Likely Outcome Path Possible
History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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Aftermath Dealt History Period Premium Protracted Risk
I didn’t believe in absolutes, moral or otherwise. If I couldn’t prove a proposition with facts and figures, it was without merit.
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Absolute Believe Fact Figure Moral Otherwise Proposition
I cannot conceive of a politically feasible solution to this problem which will overdo cutting the deficit, where overdoing means harming the economy. It might be technically possible, but it is not realistic.
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Cannot Conceive Cut Deficit Economy Harm Overdo Overdue Political Realistic Solution
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Boost Finance Free Income Increase Interest Keep Lower Productive Rate Real Saving
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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Develop Fiscal Path Place Policy Protection Regard Reluctance Sustainable Trade
But rules cannot substitute for character.
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Character Rule Substitute
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Arbitrary Death Guarantee Inspector Integrity Judgement Knowledge Nothing Superior
We may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy rules of prudence are as formidable as ever. We violate them at our own peril.
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Capitalism Cardinal Demand Integrity Interest Market Piece Trustworthy Vice Virtue
When trust is lost, a nation’s ability to transact business is palpably undermined.
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Ability Business Loss Nation Palpably Transact Trust Undermined
Senator, if I seem clear to you, you must have misunderstood me’.
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Clear Misunderstood Seem Senator

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