Many reserve bank presidents want hike
Bernanke: "it would be extraordinary if we were to begin raising rates without an immediate inflation problem with the economy still in a declining or extremely weakened situation." federalreserve.gov/monetarypolicy…
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"By the time I was done, they [private board of directors] were asking what the procedure was for dissenting from my recommendation."
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"I think it would be wise, just to shift my analogy here and think in canine terms, to take a newspaper across the snout and call for a 25 basis point increase."
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"I went into my board recommending no change and got considerable push-back in discussion about how we dissent and what the consequences of doing that are. They are concerned about inflation."
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