Nomination of Alan Greenspan: Hearing Before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Eighth Congress, Second Session on the Nomination of Alan Greenspan, of New York, to be Chairman of the Board of Governors of the Federal Reserve System, June 15, 2004U.S. Government Printing Office, 2005 - 51 pages Frank D. Wagner, Reporter of Decisions. Includes cases Adjudged in the Supreme Court at the October Term 2002, Beginning of Term October 7, 2002 Through March 4, 2003 Together With Opinion of Individual Justice in Chambers. |
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adjustments ALAN GREENSPAN appreciate assets believe Board of Governors capital markets Chairman GREENSPAN Chairman SHELBY CHUCK HAGEL Committee concern conduct of monetary Congress costs crease DEBBIE STABENOW debt Director economy ELIZABETH DOLE employment EVAN BAYH fairly Federal Reserve System fifth term financial literacy fiscal policy flexibility FOMC honorary impact important increase institutions inventory issue JIM BUNNING long-term look forward low-skill monetary policy months nomination obviously overdraft protection PAYGO percent percentage of banking permanent tax cuts private-sector jobs problem productivity growth programs question real wages recent recession recovery renomination risk Senator BAYH Senator BUNNING Senator CARPER Senator CHAFEE Senator CORZINE Senator DOLE Senator SARBANES Senator SCHUMER Senator STABENOW Senator SUNUNU significant skilled Social Security spending STATEMENT OF SENATOR structure term as Chairman Thank things TILA trend trigger underlying WAYNE ALLARD William McChesney Martin workers York ZELL MILLER
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Page 46 - The following charges are not finance charges: (1) Application fees charged to all applicants for credit, whether or not credit is actually extended. (2) Charges for actual unanticipated late payment, for exceeding a credit limit, or for delinquency, default, or a similar occurrence. (3) Charges imposed by a financial institution for paying items that overdraw an account, unless the payment of such items and the imposition of the charge were previously agreed upon in writing. (4) Fees charged for...
Page 8 - Do you solemnly swear that the testimony that you are about to give is the truth, the whole truth, and nothing but the truth so help you God?
Page 39 - Bums and William Simon, of the Thomas Jefferson Award for the Greatest Public Service Performed by an elected or appointed official, presented by the American Institute for Public Service (1976). Recipient of the Distinguished Alumni Award, Graduate School of Business Administration, New York University (1978). Background BS summa cum laude, MA, Ph.D., New York University Advanced graduate study, Columbia University Born — New York City, March 6, 1926 Biographical Summary of George J.
Page 46 - ... and subpart C, any card issuer that extends closed-end credit that is subject to a finance charge or is payable by written agreement in more than 4 installments. (18) Downpayment...
Page 8 - Reserve's experiences over the past two decades make it clear that such uncertainty is not just a pervasive feature of the monetary policy landscape; it is the defining characteristic of that landscape.
Page 9 - For such judgment, policymakers have needed to reach beyond models to broader, though less mathematically precise, hypotheses about how the world works.
Page 9 - This framework also entails devising, in light of those risks, a strategy for policy directed at maximizing the probabilities of achieving over time our goals of price stability and the maximum sustainable economic growth that we associate with it. In designing strategies to meet our policy objectives, we have drawn on the work of analysts, both inside and outside the Fed, who over the past half century have devoted much effort to improving our understanding of the economy and its monetary transmission...
Page 9 - A critical result has been the identification of a relatively small set of key relationships that, taken together, provide a useful approximation of our economy's dynamics. Such an approximation underlies the statistical models that we at the Federal Reserve employ to assess the likely influence of our policy decisions. However, despite extensive efforts to capture and quantify what we perceive as the key macroeconomic relationships, our knowledge about many of the important linkages is far from...
Page 9 - As a consequence, the conduct of monetary policy in the United States has come to involve, at its core, crucial elements of risk management. This conceptual framework emphasizes understanding as much as possible the many sources of risk and uncertainty that policymakers face, quantifying those risks when possible, and assessing the costs associated with each of the risks.
Page 9 - However, despite extensive efforts to capture and quantify what we perceive as the key macroeconomic relationships, our knowledge about many of the important linkages is far from complete and, in all likelihood, will always remain so. Every model, no matter how detailed or how well designed, conceptually and empirically, is a vastly simplified representation of the world that we experience with all its intricacies on a day-to-day basis.