Monetary economists have not yet developed a formal rule that is likely to have better operating properties than the Fed's current practice, ... Greenspan rule.

Monetary economists have not yet developed a formal rule that is likely to have better operating properties than the Fed's current practice,

We think it's accidental, but we're not going to rule that yet,

You look at this and all you can say is, yes, monetary policy remains accommodative, it's not even neutral yet, and interest rates are too low in that they still fuel the speculative purchase of housing activity.

You look at this and all you can say is, yes, monetary policy remains accommodative, it's not even neutral yet, and interest rates are too low in that they still fuel the speculative purchase of housing activity,

Between a man and his wife nothing ought to rule but love. Authority is for children and servants, yet not without sweetness.