“Inflation expectations that are well anchored provide policy-makers much greater flexibility to respond as unexpected events unfold in financial markets,”
“The household saving rate has fallen to less than 1 percent, quite low in its range of historical variation, ... If households, on net, take steps to return the saving rate closer to the middle of that range, which, I might add, would provide welcome support to capital accumulation, then a sustained period in which consumption grows more slowly than income would result.”
“This is of concern because it impedes efficient preparations by market participants and may exacerbate negative perceptions in the marketplace, ... Financial institutions should share information in order to strengthen confidence that the Year 2000 challenges are being met in all financial sectors worldwide.”
“Clearly, the immediate impact of the events of Sept. 11 was negative -- from disrupted sales, air travel and production, not to mention the effect on the attitudes and expectations of consumers and businesses,”
“Although short-run swings in firms' energy costs might be absorbed in their profit margins, a persistent increase is likely to be fully passed on to the consumer,”
“You can't have a crummy game and win like you could in other sports, because it's all up to you. There is a saying in wrestling, ' If it is to be, it's up to me'. It takes a lot of guts to take on that responsibility and scrutiny.”
