Alan Greenspan Quotes
Given Our Inevitably Incomplete Knowledge About Key Structural Aspects Of An Everchanging Economy And The Sometimes Asymmetric Costs Or Benefits Of Particular Outcomes, A Central Bank Needs To Consider Not Only The Most Likely Future Path For The Economy But Also The Distribution Of Possible Outcomes About That Path. The Decision Makers Then Need To Reach Judgment About The Probabilities, Costs And Benefits Of The Various Possible Outcomes Under Alternative Choices For Policy.
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