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Their wordsMonetary policy is a tool of macroeconomic stabilization. It smooths out the bumps and wiggles in the economy around its trend: the Fed fights recessions and overheating alike, but it does not try to move the trend itself.
Their wordsThe press conference exists so the Chair can explain the Committee's decision and answer for it.
Their wordsThe Fed's decisions affect millions of Americans. They should hear the reasons straight from the Chair.
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