Lyle Gramley Quotes

Whoever they pick has a considerable degree of background and expertise on monetary policy. - Lyle Gramley

What the Fed is trying to do, by being more transparent and more communicative, is highly desirable. But there are going to slips along the way. Ben will learn and the markets will learn. - Lyle Gramley

We've heard the reconstruction effort is putting pressure on prices of basic materials. - Lyle Gramley

We still face a longer-range deficit problem and that will be exacerbated by increases in Medicare and Social Security payments... It would be helpful to bring our budget deficit down longer-term. I worry more about that than this temporary increase in the deficit. - Lyle Gramley

This time, we're starting with an inflation rate that's too low and heading lower... What that means is the Fed will sit still until such time as it sees inflation start turning up -- which might not happen until late 2004 or early 2005. - Lyle Gramley

This report will be watched closely since at least one of the Fed presidents, Janet Yellen [Federal Reserve Bank of San Francisco], has said that if there were a further substantial decline in unemployment, it will set off alarm bells in her head. - Lyle Gramley

This report does not signal an acceleration in GDP growth... There are so many other things going on, including terrorism abroad, that I see no big burst of confidence emerging from this. - Lyle Gramley

This is an economy that's been struggling to keep its head above water for some time, so this kind of a rise in long-term interest rates is not welcome at this point. - Lyle Gramley

This is a very different recovery than any I've seen -- there's none of the dynamism or momentum we normally see. - Lyle Gramley

This is a situation where the uncertainties have suddenly become huge. If all the concerns translate into much lower personal spending, then the economy could falter. - Lyle Gramley

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