I just returned from listening to Federal Reserve Board of Governor's Vice Char Don Kohn. Many of you likely have seen the broad write-ups about the speech, in which Dr. Kohn seemed to suggest that while inflation is very much a concern of the Board, the greater concern is on slowing economic growth. The full text of the speech is available via the Board's website at:
http://www.federalreserve.gov/newsevents/speech/kohn20080226a.htm
Interestingly, as Dr. Kohn began his remarks the wind and rain picked up in earnest. Perhaps that is why many who were in attendance focused on the trouble spots highlighted by Kohn during the speech rather than some of the economic "positives" I felt he conveyed. While there is no doubt that the current crises will continue for the foreseeable future, perhaps not all is as bad as it seems.
I am reviewing my notes from the session, and will pull out the positives to post on the blog this evening.
