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Old 10-21-2011, 07:31 AM   #1
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Quote of the day: Fed's Plosser

Originally Posted by Fed Governor Charles Plosser :
Credibility is a kind of currency. Once the Fed has spent it, people lose faith
More: http://www.moneynews.com/Headline/Fe...0/20/id/415137

That article pretty much lays out the truth - the Fed is in the business of managing (and manipulating) expectations and confidence. It's a confidence game.
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