The question is not really about a shift to the economic cone where officers are writing about the balance of payments and the need for economic stabilization.
Sentiment: NEGATIVE
In a time of constrained resources we will have to shift emphasis. but not necessarily from the traditional Political Officer to the traditional Economic Officer.
That's a large part of the job as governor: to create and maintain the optimal balance.
Salary arbitration is probably in place - was put in place then and probably is in place now - because I supported it.
Efforts to promote financial stability through adjustments in interest rates would increase the volatility of inflation and employment. As a result, I believe a macro-prudential approach to supervision and regulation needs to play the primary role.
Financial advice needs to change according to what is happening in the economy.
In a world awash in debt, power shifts to creditors.
American capitalists, enthralled by the doctrines of finance, have put their income statements in service of the balance sheet.
We have to change course. And we have to do so now. That is why I worked with my colleagues in Washington to pass the Economic Recovery and Reinvestment Act.
Back in those days, in the fifties and sixties, countries had balance of payment's deficits or surpluses, those were reflected much more than today in movements of reserves among countries.
You want to balance the budget in this country? We change the salary structure for Congress and the President. Every year they don't balance the budget, we don't pay them.