Accentuate The Positive

Challenges for Monetary Policy Part 14 of 14

The late Dame Mary Douglas was no Ben Franklin. Nor was she a Philadelphian. She was a brilliant British economic anthropologist who wrote a pathbreaking book titled Purity and Danger. In it, she wrote Forex Trading Machine something that Franklin or Stephen Girard or any good central banker since the onset of time has understood implicitly: Money can only perform its role of intensifying economic interaction if the public has faith in it. If that faith is shaken, the currency is useless.

Like Charlie and my other colleagues, I have every desire to use monetary policy to intensify economic interaction, to keep breeding jobs and growing our economy, so that we might keep America strong to the thousandth generation. I have no intention of being party to any action that might shake faith in the dollar. The challenge to monetary policy, as I see it, is to achieve the growth part of our mandate in the short term and get ahead of the curve without shaking faith E-Mini Trading Course in the currency over the long term.

I know that the GIC has other things on its mind than just monetary policy. So let me stop there and answer any questions you might have.

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