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Business, 13.09.2019 08:20 naydabaddest

William mcchesney martin, who was federal reserve chairman from 1951 to 1970, was once quoted as saying, "the role of the federal reserve is to remove the punchbowl just as the party gets going." when he said "to remove the punchbowl," he meant to engage in (contractionary/expansionary) policy. in terms of the economy, "just as the party gets going" refers to a situation in which a real gdp (great than/less than) potential gdp, which will result in (increase in/decrease in) the inflation rate.

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William mcchesney martin, who was federal reserve chairman from 1951 to 1970, was once quoted as say...
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