Word: feds
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...Though the words of the Fed chair can often move markets—and media outlets nationwide paid close attention to Bernanke’s remarks—graduating seniors were far less interested in hearing what...
...audience responded with light applause, and Amy B. Diaz ’08 and Class Marshal Joshua C. H. Sharp ’08 presented the Fed chair with a gift of rock glasses for his home or office. Sharp cautioned against on-the-job use, saying, “We’re counting...
...Federal Reserve gained a new leadership that better understood the central bank's role in the inflation process and that sustained anti-inflationary monetary policies would actually work. Beginning in 1979, such policies were implemented successfully--although not without significant cost in terms of lost output and employment--under Fed Chairman Paul Volcker. For the Federal Reserve, two crucial lessons from this experience were, first, that high inflation can seriously destabilize the economy and, second, that the central bank must take responsibility for achieving price stability over the medium term...
...Volcker's time, the Federal Reserve has been firmly committed to maintaining a low and stable rate of inflation over the longer term. And we recognize that keeping longer-term inflation expectations well anchored is essential to achieving the goal of low and stable inflation. Maintaining confidence in the Fed's commitment to price stability remains a top priority as the central bank navigates the current complex situation...
...carrying this analogy too far. Graduating is not exactly like an untreatable rash that sometimes spreads to the face. But it has felt like a process utterly outside of my control, and I have approached it with the wariness of a hypochondriac. The last four years of college have fed my desire to be in charge of my life, and perhaps it is a good thing now to be prodded in the other direction a little, to be forced to realize how much of the world happens to us, instead of the other way around. I only hope that...