1 The views expressed are my own and not necessarily those of other Federal Reserve Board members or  Federal Open Market Committee participants. I am grateful to Shaghil Ahmed of the Federal Reserve Board staff for his assistance in preparing this text.
While this expression or description may be more poetic than accurate, it, nevertheless, helps to draw attention to an important point, and that is, if “perfect calm” is a correct analogy for “anti-storm”, then the favourable current conditions should be regarded as exceptional, which means that they will not continue indefinitely.