This does not involve a change in the stance of monetary policy. It is a technical change,
More Quotes from Edward Gramlich:
Monetary policy has never been partisan. Economists of both parties think that if you keep inflation low, you can keep employment high.Edward Gramlich
It never got acrimonious. They're both very reasonable people, they know each other well, they're friends. They have, I think in the scheme of things, a relatively modest disagreement.
Edward Gramlich
There's no shortage of information. You have to figure out what's important.
Edward Gramlich
If you want to keep politicians out of the Fed's business, which we do, then we ought to stay out of their business. That's one viewpoint.
Edward Gramlich
We're not explicitly targeting for any set of stock market values, ... Most of us think that we're managing the whole economy and we're trying to target inflation, unemployment. Period.
Edward Gramlich
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