Transcripts of the monetary policymaking body of the Federal Reserve from 2002–2008.

I agree that we shouldn’t place a whole lot of weight on this thing. We have been talking about this, Mr. Chairman, on the morning call. There may be some anomalies here, but I wouldn’t place a whole lot of weight on that. I just wanted to get a sense of how the Board’s measurement was different. It looks to me to be more range-bound, just to use your term, Bill, but that’s not a point worth spending much time on. Thank you.

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