Federal Reserves First Monetary Policy Report for 1993 Hearing Before the Com
Federal Reserves First Monetary Policy Report for 1993 Hearing Before the Com
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To quickly assess the difficulty of the text, read a short excerpt:
Now, if you're concerned about having the economy expand, move forward, get some growth, get some job res- toration, and if your fiscal policy is going to have a contractionary impact, which, in effect, would potentially put a downward pres- sure on the economy, where are we going to find the accom. Moda- tion or the thrust for expansion for the economy? Mr. Greenspan. It depends to a large extent on how the private sector responds. Obviously, if, as a consequence of the program, long-term inte...rest rates fall further, say, then it's quite credible that you could essentially eliminate the fiscal drag effect by the ef- fects of lower long-term interest rates so that, in that sense, one can either get somewhat less or even somewhat more stimulus from the so-called fiscal drag, meaning that when we talk about fis- cal drag, we are talking only about the first moment, so to speak, of the activity. But there are secondary consequences that occur and in many re- spects, in this type of environment, the secondary consequences of the fiscal drag are very positive.
What to read after Federal Reserves First Monetary Policy Report for 1993 Hearing Before the Com?
You can find similar books in the "Read Also" column, or choose other free books by Housing United States Congress Senate Committee On Bank to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Now, if you're concerned about having the economy expand, move forward, get some growth, get some job res- toration, and if your fiscal policy is going to have a contractionary impact, which, in effect, would potentially put a downward pres- sure on the economy, where are we going to find the accom. Moda- tion or the thrust for expansion for the economy? Mr. Greenspan. It depends to a large extent on how the private sector responds. Obviously, if, as a consequence of the program, long-term inte...rest rates fall further, say, then it's quite credible that you could essentially eliminate the fiscal drag effect by the ef- fects of lower long-term interest rates so that, in that sense, one can either get somewhat less or even somewhat more stimulus from the so-called fiscal drag, meaning that when we talk about fis- cal drag, we are talking only about the first moment, so to speak, of the activity. But there are secondary consequences that occur and in many re- spects, in this type of environment, the secondary consequences of the fiscal drag are very positive.
What to read after Federal Reserves First Monetary Policy Report for 1993 Hearing Before the Com?
You can find similar books in the "Read Also" column, or choose other free books by Housing United States Congress Senate Committee On Bank to read onlineMoreLess
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