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

Yes. I think the lesson of those various periods is just how hard it is—once the expectation is created that as a matter of policy we’re going to try to induce a substantial decline in the value of our currency—to contain it or to slow it and manage it. And yet if we could immaculately induce the rest of the world to revalue against us in some gradual way, we’d do it if we could. That would be rather nice.

Keyboard shortcuts

j previous speech k next speech