Laurence Meyer
Laurence Meyer
Laurence Meyeris an economist and was a United States Federal Reserve System governor from June 1996 to January 2002...
overall percent reduce
They could reduce tumors 88 percent overall and they could reduce 100 percent of cancerous tumors.
communication innovation message policy
It was the same policy message but with a little innovation in communication.
becomes sources staff together
The staff and Don Kohn together are important sources of continuity, Kohn becomes more important.
becomes sources staff together
The staff and Don Kohn together are important sources of continuity, ... Kohn becomes more important.
chairman everybody favor game knew start
When the chairman made his recommendation at the start of the go-round, the game was up, it was over. Everybody knew what the chairman would be in favor of.
early growth inventory percent possible range rebound stuck
On the other hand, it's possible the first quarter's growth was just a one-time inventory rebound and that we're now stuck in a range of 1.5-to-2 percent growth. If that continues, it will be much like the early 90s,
cause cutting early economy fed grew growth half investment near occurred percent quarter rates rebound strong time year
We got a lot more growth in the first quarter of 2002 than occurred in the first year after the 1990-91 recession, ... The economy grew near 4 percent in the first half of this year. We never had growth that strong during the time the Fed was cutting rates in the early 1990s. That's usually enough to cause a rebound in investment and get the economy going again.
aggregate balance demand distinct further higher inflation labor markets product risk suggest supply today
The balance of aggregate demand and sustainable supply today and the distinct possibility that labor and product markets will tighten further suggest an unacceptable risk of overheating and, therefore, higher inflation in the future,
below employment fed payroll slow study
If the Fed study is right, payroll employment would have to slow to well below that.
difficult economic model
He didn't think about the economic world the way most of us do. It made it difficult for him to communicate. His model was fundamentally different from everyone else's. That is what we'll miss.
fed less might net next people picked tables thinking wider
That appointment got people scurrying back to their probability tables for the next Fed chairman, thinking the net might be wider and the person picked might be less credentialed, and that got people nervous.
easy far gradual interest rates rising steady
So far it's been an easy roll, with interest rates rising at a steady gradual pace.
challenge fed
This is a very big story. It makes the challenge for the Fed a little greater.
fundamentals demand limits
The Broader interpretation that often seems to underlie the new economy label is that we are witnessing a more fundamental change in the paradigm. The old rules no longer apply. Throw out the NAIRU. Heck, throw out supply and demand. No limits, no business cycles.