Pulled that into this. Treasury, we want treasury to be able to have the cash that it needs and we are essentially taking that to our work. There may come a time when we talk about that. I think we are more focused, frankly, on the bill purchases the year end and review of supervisory and regulatory issues that were digging into and we think these are structural things, right just allow the liquidity that is already there to flow more freely perhaps by making fairly straightforward noncontroversial changes. We think there is some of that if they take role changes, it will take three months and things like that these things that were working on now, like going through year end with the overnight facilities and the bill purchases and the term repo, those are things we have to do right now and are doing. Chris hi. I wanted to ask the only change in the statement was a drop in the reference to uncertainties around the economy you seem very confident or it implies theres a lot of confidence
Good afternoon, everyone. To begin, id like to say a few words about paul volker who as you know passed away earlier this week. Paul volker served as Federal Reserve chair from 1979 to 1987. He accomplished many things during his long and distinguished career at the fed and elsewhere. Hes best known for leading the fight to tame the doubledigit inflation he inherited, laying the prosperity we enjoy today. But what is perhaps most admirable about him more than his accomplishments was his character. He believed that there was no higher calling than Public Service and he dedicated the lions share of his life to it. With courage, tenacity and integrity he pursued the policies he believed would benefit all americans. My colleagues and i continue to draw inspiration from his example. Turning to todays meeting, my colleagues and i decided to leave our rate unchanged after lowering it a total of 0. 75 . We based our decisions on judgment of how best to achieve the goals congress has given us,
Leading the fight to tame the doubledigit inflation that he inherited as chair, thus laying the foundation for the prosperity and price stability we enjoy today. But what is perhaps most admirable about him more than his many accomplishmentswas his character. He believed that there is no higher calling than public service, and he dedicated the lions share of his life to it. With courage, integrity, and tenacity, he always pursued the policies that he believed would ultimately benefit all americans. My colleagues and i continue to draw inspiration from his example. Turning to todays meeting, my colleagues and i decided to leave our policy rate unchanged, after lowering it a total of 3 4 of a percentage point at the previous three meetings. As always, we base our decisions on judgment of how best to achieve the goals congress has given us maximum employment and price stability. Our Economic Outlook remains a favorable one despite Global Developments and ongoing risks. With our decisions