The yields indicate that markets aren't concerned about inflation or that they're confident that the Fed is on the job and will contain it. But there's some sort of subconscious, collective belief that sustained manageable inflation is too good to be true and eventually the other shoe will drop. Tom Schlesinger
Motivational, Inspirational, Funny Quotes
![[This is the most sluggish recovery on record, which seems to puzzle the Fed chairman. But it reflects the Greenspan style of running things; he presided over a similarly tepid recovery in the early 1990s. Tom Schlesinger, director of the Financial Markets Center, a monetary-policy watchdog, thinks the lopsided economy is the most disturbing hallmark of Greenspan's governance.] The Fed has said almost nothing about this, except [vice chairman] Roger Ferguson says there's nothing the Fed can do particularly, ... The jobless recovery appears to be a new feature of the US business cycle. Yet the principal agent of economic management says nothing. - Tom Schlesinger Quotes](/pic/img/img.php?text=W1RoaXMgaXMgdGhlIG1vc3Qgc2x1Z2dpc2ggcmVjb3Zlcnkgb24gcmVjb3JkLCB3aGljaCBzZWVtcyB0byBwdXp6bGUgdGhlIEZlZCBjaGFpcm1hbi4gQnV0IGl0IHJlZmxlY3RzIHRoZSBHcmVlbnNwYW4gc3R5bGUgb2YgcnVubmluZyB0aGluZ3M7IGhlIHByZXNpZGVkIG92ZXIgYSBzaW1pbGFybHkgdGVwaWQgcmVjb3ZlcnkgaW4gdGhlIGVhcmx5IDE5OTBzLiBUb20gU2NobGVzaW5nZXIsIGRpcmVjdG9yIG9mIHRoZSBGaW5hbmNpYWwgTWFya2V0cyBDZW50ZXIsIGEgbW9uZXRhcnktcG9saWN5IHdhdGNoZG9nLCB0aGlua3MgdGhlIGxvcHNpZGVkIGVjb25vbXkgaXMgdGhlIG1vc3QgZGlzdHVyYmluZyBoYWxsbWFyayBvZiBHcmVlbnNwYW4ncyBnb3Zlcm5hbmNlLl0gVGhlIEZlZCBoYXMgc2FpZCBhbG1vc3Qgbm90aGluZyBhYm91dCB0aGlzLCBleGNlcHQgW3ZpY2UgY2hhaXJtYW5dIFJvZ2VyIEZlcmd1c29uIHNheXMgdGhlcmUncyBub3RoaW5nIHRoZSBGZWQgY2FuIGRvIHBhcnRpY3VsYXJseSwgLi4uIFRoZSBqb2JsZXNzIHJlY292ZXJ5IGFwcGVhcnMgdG8gYmUgYSBuZXcgZmVhdHVyZSBvZiB0aGUgVVMgYnVzaW5lc3MgY3ljbGUuIFlldCB0aGUgcHJpbmNpcGFsIGFnZW50IG9mIGVjb25vbWljIG1hbmFnZW1lbnQgc2F5cyBub3RoaW5nLiA=&author=ICBUb20gU2NobGVzaW5nZXIgICAg&num=13 "[This is the most sluggish recovery on record, which seems to puzzle the Fed chairman. But it reflects the Greenspan style of running things; he presided over a similarly tepid recovery in the early 1990s. Tom Schlesinger, director of the Financial Markets Center, a monetary-policy watchdog, thinks the lopsided economy is the most disturbing hallmark of Greenspan's governance.] The Fed has said almost nothing about this, except [vice chairman] Roger Ferguson says there's nothing the Fed can do particularly, ... The jobless recovery appears to be a new feature of the US business cycle. Yet the principal agent of economic management says nothing. - Tom Schlesinger Quotes")
