Speaker Profiles

John Pearson

John Pearson

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Some easing of global monetary conditions is therefore warranted. Accordingly, the Bank of Canada, the Bank of England, the European Central Bank, the Federal Reserve, Sveriges Riksbank, and the Swiss National Bank are today announcing reductions in policy interest rates. The Bank of Japan expresses its strong support of these policy actions.As an inflation hawk, I'd normally be against such a move. Vehemently, in fact. But with oil prices in the $85 a barrel range, I think inflation is the least of our worries. I was, though, surprised to see that both Fisher and Plosser agreed with that point of view:

Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Elizabeth A. Duke; Richard W. Fisher; Donald L. Kohn; Randall S. Kroszner; Sandra Pianalto; Charles I. Plosser; Gary H. Stern; and Kevin M. Warsh.

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