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

On the same chart, Joe, I was wondering whether there is any evidence that the foreign demand for our exports, that elasticity, is coming into closer alignment with our demand for imports. That difference has really been driving the trade imbalance, and I was looking for little clues that this wasn’t all special factors, that maybe they’re catching up to us in their appetites for imports.

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