The Federal Reserve Will Not Monetize The

The People Who Best Use Their Advantages, Or Overcome Adversity, And Work Honestly Are Those Most Worthy Of Admiration.

I Generally Leave The Details Of Fiscal Programs To The Administration And Congress. That's Really Their Area Of Authority And Responsibility, And I Don't Think It's Appropriate For Me To Second Guess.

Under A Cold Turkey Strategy, At Each Policy Meeting The Federal Open Market Committee Would Make Its Best Guess About Where It Ultimately Wants The Funds Rate To Be And Would Move To That Rate In A Single Step.

Over The Years, The U.s. Economy Has Shown A Remarkable Ability To Absorb Shocks Of All Kinds, To Recover, And To Continue To Grow. Flexible And Efficient Markets For Labor And Capital, An Entrepreneurial Tradition, And A General Willingness To Tolerate And Even Embrace Technological And Economic Change All Contribute To This Resiliency.

If You Want To Understand Geology, Study Earthquakes. If You Want To Understand The Economy, Study The Depression.