William Poole
William Poole
William Poole, also known as, Bill the Butcher and Bill the Butcher Poole, was the leader of the New York City gang, the Bowery Boys and a leader of the Know Nothings political movement...
commit fed future interest policy pursue work
It will be in the interest of future Fed chairmen to commit to pursue policy regularities that work well,
clear extent fed markets policy quite understand
It is quite clear that the markets understand Fed policy to a much better extent than before.
auto continuing course locked open policy reading responsive
We should not just be on auto pilot, ... Policy is and should be responsive to incoming data. We need to be open to reading that evidence, not just continuing a policy course that we thought we locked in.
aspire clear create policy statements themselves
At a minimum, the (Fed's policy panel) can and should aspire to policy statements that are clear and do not themselves create uncertainty and ambiguity,
desirable highly maximum policy possible practice
It is highly desirable that policy practice be formalized to the maximum possible extent,
actions difficult experience interpret nuances people personal policy predict press
My personal experience is that I find it exceedingly difficult to predict how people will interpret policy actions and the nuances of the press release.
monetary objective ought policy price takes unwind viewed
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,
benign inflation outcome reason similarly
I see no reason why we should not see a similarly benign inflation outcome this year,
cold pressures prices true winter
There will be some pressures on households, and that will be particularly true if we have a cold winter and natural-gas prices go up even further.
employment exert greater habits housing income influence pocketbook spending state
Other economy-wide developments, especially income and employment growth, typically exert a much greater influence on the consumer's pocketbook and spending habits than does the state of the housing industry.
aim broad measures percent pick
Our aim is to keep inflation, in general, down. If I had to pick a point, it is to keep these broad measures in a one to two percent range.
continue economy inflation process risks skewed underlying view
We should continue that process as long as we have the view that the underlying economy is pretty robust...and the inflation risks are skewed to the upside,
business decline expect fixed growth leveling source
I would not expect any precipitous decline in housing. I would expect it to just be leveling off, and you would see new source of growth from business fixed investment.
meeting point situation unlike year
Unlike the situation a year ago...at this point I very much go meeting by meeting by meeting.