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

I’d just like to echo both of those points, which makes this issue in some ways much more subtle and difficult to pull off. I agree with Rick 100 percent. Part of our job here is education. We have to walk the line between talking about the subtleties of monetary policy and issues that confront us and educating the public, because the last thing we want to do is to clam up about monetary policy to such an extent that the public doesn’t get educated and doesn’t understand what we’re doing and why. So it is important that we bring them along with us to some degree as we talk about it. The other point that I would reinforce is what Bill said: Many of us are on record as having points of view on some of these issues, and we can’t just deny that those exist.

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