fed speech, 2006-02-24
To simplify a complex history, earlier attempts to stabilize the monetary arrangements of the United States had frequently been roiled by perceived conflicts of interest between (on the one hand) the farmers and tradespeople of Main Street America, who believed that they were most advantaged by policies of easy credit, and (on the other hand) the financial barons of Wall Street, who, as creditors and bondholders, preferred "hard-money," low-inflation policies.
Sentiment: neutral
Topic: mp_economic_activity