Haiku of the Day
Commodities make / Other commodities and / that’s economics!
Quote of the Day
“Policies that would instead place us on a slow glide path toward our targets undermine the credibility of our claim that we will do our job and meet mandated policy goals in a timely fashion. Timid policies would also increase the risk of progress being stymied along the way by adverse shocks that might hit before policy gaps are closed. The surest and quickest way to reach our objectives is to be aggressive. This means, too, that we must be willing to overshoot our targets in a manageable fashion. Such risks are optimal if the outcome of our policy actions implies smaller average deviations from our targets over the medium term. We should be willing to undertake such policies and clearly communicate our willingness to do so.” Chicago Federal Reserve Bank President Charles Evans, 9 April 2014, from a speech given to the 23rd Hyman Minsky Conference in Washington, DC
Links of the Day