Sandra Pianalto, Cleveland Fed President, answers.... sort of... questions.

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CrazyCoot Posted: Tue, Jul 31 2012 10:18 AM

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http://www.youtube.com/watch?v=s-pw9jZbRss&feature=related

Some golden parts..  " So your comment (actually it was a question) of 'Is any human being smart enough to know how to set the price for various assets including money?'  No, that's why the market place does work.  But our ( the Fed) role in that marketplace is to provide, first and foremost, a stable price environment. Because if we allow inflation to get too low or too high then that makes it very difficult for any market participant on how to price assets.... Our role is not to introduce noise ( too much inflation or too much inflation) into that equation ( the pricing of assets) so that businesses can determine the prices of the goods and services that they are offering... So we're not interfering trying to set prices.  Our role is to provide an environment where the market place can make a decision on what those prices of goods and services should be"

Imagine her husband catching her in bed with another man.. " No, no. I wasn't cheating. I was establishing a stable matrimonial environment."

Sheesh.