"I did not have sexual relationship with that woman, Monica Lewensky...."
here is another would be "Classic: quote:
``What we do not do, have not, are not, and I doubt if we ever will, is to try to target the equity market,' he said in answer to a question posed after giving a speech.
This must make BGR happy!
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Thursday March 9, 1:37 pm Eastern Time
Fed not targeting U.S. stocks, Fed's Boehne says
PHILADELPHIA, March 9 (Reuters) - Federal Reserve Bank of Philadelphia President Edward Boehne said on Thursday the U.S. central bank was not directly targeting the stock market in setting its monetary policy.
Speaking to the Financial Analysts of Philadelphia, Boehne also said the best way to balance the economy was if the Fed used an incremental policy in changing official short-term interest rates.
``What we do not do, have not, are not, and I doubt if we ever will, is to try to target the equity market,' he said in answer to a question posed after giving a speech.
``We clearly have to take it into account along with a number of other factors. I think when central bankers speak about equity markets there is a great potential for confusion because sometimes people gloss over that we target something versus that we take something into account. And I think there is a major difference,' he added.
Boehne, who retires later this year, said the Fed was primarily focused on the U.S. economy in setting its monetary policy and said incremental changes in interest rates were the best way of influencing economic activity.
``You have a much better chance of avoiding problems in having smaller adjustments in monetary policy,' he said.
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