The very fact that we are in what appears to be a sustained recovery speaks well of our economy and its flexibility to adjust and regain strength over time. Dissent and monetary policy deliberations My view of the economy’s prospects and the appropriate stance of monetary policy differ from the majority view among my Federal Reserve colleagues.
Last year, I was a voting member of the Federal Open Market Committee. Reserve Bank presidents vote in rotation, so I will be a participant rather than a voting member this year. It is a matter of public record that I dissented, or cast a “no” vote in all eight meetings in 2010.