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

Thank you, Mr. Chairman. I support your recommendation on the rate and on the change in language. I would reiterate one point I’ve tried to make before—apparently unpersuasively—that further disinflation or even a touch of deflation, if it’s stemming from rapid productivity growth, is not necessarily a cause for concern.

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