Let the record show, Mr. Chairman, only Casey and I clapped.
I hope we can count on your support and the administration's support for both technical guidance as we move forward with this proposal, but ...
In a sense you moved away from a purely quantitative measure and are moving more toward the qualitative, which I think is a good thing.
And if it is not mostly weather, would you consider pausing or changing the rate of tapering?
But if Congress had done more on the fiscal side to deal with the damage the economy suffered, the Fed would not have to do this.
It is a statement of fact about the economy. It is not supposed to be partisan.
Understood. My next question talks about some of the qualitative versus quantitative guidance.
The TRIA program is one of the, if not the, best post-9/11 pieces of legislation. It is the Government working with the private sector when ...
I would urge my colleagues not to be dogmatic on this issue but look at the practical reality of the situation.
At the very least, it would raise the cost of things, wouldn't it?
You can be a purist and say this is something the Federal Government should not be involved in.