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

I have many of the same questions. Let me just raise a couple of issues. The first is on the investment income swing that shows up in the capital account. I don’t profess to be anywhere near an expert on this, but I had always thought that those numbers are typically positive because we generally make more money abroad than foreigners make here. Does that swing from time to time, and is this just a normal swing, or is this telling us something significant?

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