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The Economy in Perspective

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To cut, or not to cut—that is the question:

Whether ’tis nobler in the end to suffer
The slings and arrows of a slow expansion,
Or aim policy against a sea of troubles,
And by opposing end them? To cut: to reduce
A quarter point or more; and thereby strive to end
The heartache and the thousand natural shocks
Th’economy is heir to. ’Tis a consummation
Devoutly to be wish’d. To cut, t’offset—
T’offset—perchance to dream: ay, there’s the rub;
For in th’attempt to counteract, what else may come
When we provide still more liquidity
Must give us pause. There’s the respect
That makes calamity of too much money.

Suggested citation: "The Economy in Perspective," Federal Reserve Bank of Cleveland, Economic Trends, no. 02-09, pp. 01, 09.01.2002.

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