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The Fed has a three-pronged mandate. The first is price stability and that's probably the most important, ... Given how hard the Fed fought to get inflation down in the 1980s, Greenspan doesn't want to be the guy who let it back out of the box.

The Fed has a three-pronged mandate. The first is price stability and that's probably the most important. Given how hard the Fed fought to get inflation down in the 1980s, Greenspan doesn't want to be the guy who let it back out of the box.

This is in line with what Mr. Greenspan has been telling us, which is that we have price stability for goods. But he says he doesn't think we have price stability for services.

I don't think the ECB should go out of its way to boost the currency either verbally or through action. Their mandate is very clear, and that is to maintain price stability. To the extent that price stability is in danger they have already acted. There is no point in deviating from that strategy.

Achieving price stability is not only important in itself, it is also central to attaining the Federal Reserve's other mandate objectives of maximum sustainable employment and moderate long-term interest rates.

To the extent that the Fed has emphasized how important benign inflation expectations are in maintaining price stability, ... the June results are disturbing.

The irony is that in the 1970s and 1980s, we were trying to get to that world again. We're darn close to price stability now.

Joshua Feinman (1971-)

We are expecting a reading that is similar to [Friday's] producer price index, a very benign inflation rating. Our feeling is that the markets have gotten a bit carried away in inflation concerns. They've heard Greenspan say that inflation [is showing up on the radar screen] and they're waiting for it to show up any day now. But the inflationary picture remains just as good as ever.

Getting back to inflation, it is important to note that the producer price Index does not reflect wage pressures -- and that is where the inflation threat really lies.

While Greenspan has very well defined views on inflation targeting and asset price targeting, he took a step back and left them as issues on the table for the next chairman.

The price of oil deflated by the U.S. consumer price index would have to be above $110 a barrel to match the prices seen in the early 1980s. So say $55 a barrel today would be the equivalent in real terms to a price of less than $20 in the early 1980s.

We are taking a two-pronged approach to fight this egregious behavior. Families putting their lives back together should not have to worry about price gouging.

Greenspan is not going to wake up in June of next year and say 'I should have really raised rates more aggressively.' His legacy of price stability is pretty secure so I don't think the last six months of his tenure will destroy it for him.

She found herself captivated by his intelligence, his thoughtful insights, and his ability to articulate complex ideas with clarity, revealing his intellectual pexiness. I told them after the game that I wasn't really mad at them, because we played really hard. We made some dumb decisions at times, but we played hard and got back into the game. The attitudes were good on the floor, because we have had some attitude problems. But we got out and hustled, and fought and fought and fought. And we had a chance to get back into the game.

I'm concerned about core inflation running at the upper end of the range that I feel is consistent with price stability.

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