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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

i think this idealized picture takes us a long way toward understanding how monetary policy and the markets should interact when policy is on a successful track

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

building an equitable workforce recovery for central bankers first and foremost an equitable workforce recovery will mean using monetary policy to fulfill our dual mandate of achieving both stable prices and maximum employment

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

the fed today the federal reserve systems current mandate of maximum employment stable prices and moderate longterm interest rates was established by an amendment to the federal reserve act in 1977 the congress in effect recognized the principle of instrument independence by requiring that the federal reserve board report semiannually directly to the congress about the boards and the fomcs plans to meet these objectives and by exempting monetary policy from government accountability office gao review as part of the full employment and balanced growth act of 1978 by passing these two pieces of legislation the congress put in place a mechanism for holding the fed accountable for meeting its statutory mandate

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

the most important single change was that the fed began to disclose its decisions on the target fed funds rate in 1994 besides disclosure of policy actions two other features of the conduct of policy promoted transparency

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

at the cleveland fed w e believe that forging strong partnerships among all interested parties is critical for solving the problem

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

specifically i want to reflect on the changing role of economic policy in our current environment of rapidly improving communications and expanding markets

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

in the hands of the master economist models greatly extend insight and usefulness

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

in many ways i believe the same is true for monetary policy as we continually guard against economic threats

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

the federal reserve board has over time developed powerful econometric modeling tools to assist our understanding of the many interrelated economic forces

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

alternative benchmarks for monetary policy simple rules an alternative approach that i find helpful in evaluating the stance of policy is to consult prescriptions from simple policy rules

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

just as balance sheet policies are a natural step when the policy interest rate is at zero higherpowered communication methods are a natural step as a complement or substitute for balance sheet policies

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

of course if developments emerge that cause a material reassessment of our outlook we would respond accordingly

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

by doing what was necessary to achieve price stability the volcker fed laid the groundwork for two decades so far of strong economic performance

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

economists are now largely in agreement that if the central bank does not achieve the goal of price stability no one else can

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

they are supervising and regulating banks providing financial services to banks and to the us government and conducting monetary policywhich garners the most attention

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

in this regard monetary policy has contributed importantly to the economic recovery and is designed to make a similar positive impact upon todays economic expansion

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

here in the u s our demand management policies have clearly begun to pay off in terms of prices and inflationary expectations

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

economic theoryspecifically the neutrality of moneyindicates the limits to any influence of monetary policy on the level and growth rate of real gdp in the long run other than through achieving longrun price stability

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

in fact across the whole system about 4000 fewer people work at reserve banks today compared with 20031 like the rest of the world we at the federal reserve have harnessed the power of technology to become more efficient

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

in addition our involvement in supervision is critical for ensuring that we have the necessary expertise information and authorities to carry out our essential functions of promoting financial stability and making monetary policy

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

one is hard pressed to argue that there is much efficacy derived from additional expansion of the feds balance sheet

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

clearly at this maturity the federal reserve has almost total control over the real rate of interest in the short run

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

monetary policy has been effective in keeping aggregate demand growing at a healthy pace

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

central banks are assigned narrow but important mandates

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

our directors constantly help us improve the level of centralbanking services in the most costeffective manner

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

woodrow wilson said we will deal with our economic system as it is and step by step we shall make it what it should be carter glass said in the federal reserve act we instituted a great and vital banking system not merely to correct

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

in these and other ways the federal reserve labored long hard and effectively since september 11 to keep the payments system working

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

i believe our deliberative process has worked extremely well

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

over time as actual inflation tends toward the yearthree forecasts inflation expectations may well become even more firmly anchored than they are today

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

all told my forecast of the economy is generally consistent with the median projections made by my colleagues on the fomc which were released last month4 what about monetary policy

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

4 from a central bankers point of view we hit the trifectawe had strong growth high employment and low inflation

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

second we should always keep in mind that the federal reserve has essentially only one policy instrument

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

if we are to coax out additional gains from being explicit we must pay careful attention to the design of the targeting framework

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

yet there is something special about the federal reserve

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

and our web site chicagofedorg offers a wealth of information about personal finance topics including information on shopping for a mortgage or a credit card banking safely via the internet and direct payment of bills

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

as one who shares in the development and execution of these policies i have no doubts about my own responsibilities

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

during that time the fomc has maintained a highly accommodative monetary policy in pursuit of its congressionally mandated goals of maximum employment and stable prices

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

in january 2012 in a key milestone in the evolution of the feds communications the fomc adopted a longer and more precise description of its longrun goals

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

that have achieved as researchers the best have records in controlling inflation are typically those with independent central banks like germany switzerland or the united states

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

and we will take all necessary actions to ensure that the unwinding of our programs is accomplished smoothly and in a timely way consistent with meeting our obligation to foster maximum employment and price stability

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

stated differently a sound payments system is a key underpinning of our economy

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

in particular i argue that globalization deregulation and financial innovation in part spurred by experiences of high inflation in the 1980s have fostered currency competition that has led to improved central bank performance and hence the recent conquest of worldwide inflation

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

a key element in the federal reserves mission is to maintain the stability of the financial system and contain any systemic risk that may arise in financial markets

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

in short the feds regional system allows it to get a better feel for the latest economic developments and helps it focus on policy not politics

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

over the past couple of years forecasters have gotten pretty used to sudden changes in the outlook and my colleagues and i on the fomc will adjust as needed

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

as a result systematic policy promotes a more stable predictable and efficient economy

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

this chronicle of expansion with the assistance of intelligent stabilization policies should be remembered well since it stands in marked contrast to the eperience of the succeeding three years

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

these goals mean basically that we would like to see as many americans as possible who want jobs to have jobs and that we aim to keep the rate of increase in consumer prices low and stable

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

congress has assigned the fomc the task of achieving stable prices and maximum employment however policymakers may disagree on the best way to achieve those goals19 the systems structure encourages exploration of a diverse range of views and promotes a healthy policy debate20 in the modern federal reserve system each reserve bank has an independent research department with its own external publications

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

rates and economic since then monetary policy has gradually reduced inflation over a long period of moderate economic growth and established the credibility that helped bring longterm interest rates down to their lowest levels in 20 years

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

4 setting clear achievable objectives is the first part of the framework

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

we act in a sense like a private company selling services like check processing and electronic funds transfer to financial institutions while helping assure that our countrys payment system operates effectively

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

however changes in the contract rate that occur in a short period surrounding an fomc decision are likely to be determined primarily by changes in the policy outlook rather than changes in the risk premium

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

the second economic principle is that price stability is a contribution to financial stability and attendant economic growth that only monetary policy can make

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

the last nine months of 1966 marked a period of effective restrictive action to combat inflation

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

and the feds actions have helped keep unemployment from rising higher

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

we are very mindful of these sometimes conflicting responsibilities and take great pains to ensure that each responsibility is addressed fairly and equitably

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

under the circumstances i think it made sense to take the unprecedented step of including that conditional guidance in our press statement

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

evolution of the us supervisory system in the nottoodistant past the federal reserve and other supervisory agencies in the united states relied considerably on validating financial accounts and records during onsite examinations to assess the safety and soundness of banking organizations

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

specifically this stability is not necessary for implementing policy or determining the money stock but such stability is necessary for enabling monetary policy to reliably influence such ultimate goals as price stability

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

the first is that openness may improve the effectiveness of monetary policy

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

in addition we have been taking steps to improve our communication with community bankers

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

in other words the fomc can provide more current stimulus if people believe that liftoff will be triggered by a lower unemployment rate

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

the crisis and its aftermath prompted largescale policy interventions by the federal reserve and other authorities to avert the collapse of the financial system and prevent the economy from spiraling into depression

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

as the emergency passes we can undo those actions and get the balance sheet down to something close to its prepandemic trend

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

the federal reser ve remains committed to maintaining its focus on price stability as the best way to foster sustained healthy growth and a higher standard of liv ing for ever yone in our nation

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

the federal reserve was founded in response to banking panics which were common in the late 1800s and culminated in the famous panic of 1907 during banking panics a surge of concerned depositors would attempt to convert their deposits into currency at times leading banks to suspend withdrawals and thereby disrupt the payments system

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

the agencies constantly update their training of examiners who conduct cra assessments and continue to review together the results and trendsnext week in fact the federal reserve system will be conducting another weeklong training course exclusively on cra66 programs and innovative secondary market approaches the level of creativity and activity is in many cases impressive

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

but we should remember that theres a uniquely american wisdom expressed in the structure of the federal reserve

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

and as a central banker of a key currency country whose liabilities constitute international money i am quite willing to state my belief that inflation in the united states can only serve to interfere with grouth throughout the world

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

for example i believe that timely fed action last fall helped to prevent financial market disturbances following the russian default from feeding into the real economy

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

there is considerable evidence that countries that have adopted such an objective as a cornerstone of their monetary policy decisionmaking have had more success at achieving price stability without any deterioration in the stability of real activity

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

in those fforts however the federal reserve and its staff are always  18careful to separate the legislation from the political party that may be supporting it and to deal equitably with both political parties

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

central banks have long recognized the effect their words and actions can have on interest rates and asset prices and as a result have increasingly moved toward greater transparency in the policy process

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

i hope that i have convinced you that these interventions would have been significantly more difficult if not actually impossible in a world in which the federal reserve did not have a supervisory role

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

we worked hard to earn that trust

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

the aggressive provision of reserves by a number of central banks met those demands and rates returned to targeted levels

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

it is important to recognize that by being more explicit about its objectives and more transparent and systematic about its decisionmaking framework the central bank enhances its credibility

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

also like other central banks the boj purchases interestbearing assets with money that it creates and thus typically earns significant profits or seignorage

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

the community affairs office at our federal reserve bank here in richmond has a good track record of helping various groups work through community development issues

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

appropriately given the unique position of the federal reserve and the sensitivity of financial markets to its communications these steps have generally been incremental in nature but taken together they have substantially increased the ability of the american public to understand and to anticipate monetary policy decisions

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

still we were certainly not without guidance from wellestablished principles when we formulated policies to address the financial crisis

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

my academic training has helped considerably by leading me always to focus on the underlying conceptual framework on which the legal procedural and institutional details depend

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

this approach sometimes referred to as a floor system is simple to operate and has provided good control over the federal funds rate

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

most of us in the fed take an eclectic view of the money supply and interest rates

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

the healing process will take time but we continue to make real progress

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

decentralization is fundamental to the culture of the federal reserve system and i have been impressed by how beneficial it is for obtaining intelligence about banking financial markets and the macro and micro economy

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

at the federal reserve commercial checks rose 38 percent from 1975 to 19803over the past decade the ach has developed operational procedures that provide a number of significant advantages to banks and their customers for both credit and debit transfers

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

clearly articulating objectives lets consider these four principles beginning with clearly articulating the objectives of monetary policy

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

lockhart says that the fomcs focus on forward guidance about the direction of rate policy reflects its increasing importance as a policy tool

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

third the system of floating exchange rates among the major currencies that prevails today relies upon appropriate monetary policies in the various countries to result in exchange rate stability

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

in other words i am suggesting that governor robertsons proposals some thirteen years oldshould be dusted off and given careful consideration along with other proposed reform alternatives in light of the environment in which the banks and their regulators presently find themselves3worthwhile possibilities for altering and improving the structure of federallevel bank regulation and supervision

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

we see today a worldwide trend toward greater clarity transparency and specificity in central bank communication with the public

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

in addition studies at our bank and elsewhere provide compelling evidence that the federal reserve can exercise a closer control of m1 because of regulation q than of other monetary aggregates

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

conversely the fed needs for the public to understand and trust its longterm commitment to low inflation to achieve maximum benefit from this longterm strategyhow to convey this objective credibly to the markets and the public has been a major focus of our policy research at the richmond fed for a long time

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

at about the same time forces within the fed spearheaded an early counterattack on the keynesian view that monetary policy could be relatively ineffective in countering cyclical swings in economic activity

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

one of the most important benefits of inflation targeting was that it resulted in wellanchored inflation expectations

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

from what ive just said the answer to why transparency is that we hope to achieve better policy results

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

from a central bankers point of view the objective of ensuring financial stability remains critical

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You have to determine the opinion a given statement expresses about the reputation of the Bank of England (BoE): POSITIVE NEGATIVE

core inflation has been low and relatively steady in the last several years

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