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In remarks delivered at the Hoover Institution, New York Fed President John C. Williams discussed three key principles derived from monetary policy theory and experience that help guide central banks in achieving price stability. He said: “Years of experience—and years of careful analysis—have taught us that, first and foremost, central banks must own the ...
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Currency trading is somewhat unusual in that the price reflects what is happening in two different currency zones. If we want to discuss how currencies relate to inflation, we should keep in mind that we should be talking about the inflation rate in the two currencies. For example, if the inflation rate in Canada is 2% and the inflation rate in the United ...
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