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 also on the change in language. I welcome the removal of the “considerable period” reference because, as I said earlier, I would prefer to be silent on any future policy actions that the Committee might take. In that regard I would also have to agree with the concerns that President Moskow and Governors Bies and Olson raised regarding the new language. But I do support the change at this point.

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