Stabilize. I will be that there is a limit below which oil prices are likely to rise. We look at Market Expectations, market forctations are stabilization. And then some gradual upward movement. I certainly grant that we have had a series of shocks, pushing them down. But we are not looking for them to revert back to the higher levels that they were at. Merely to stabilize. Would point out, you ask me, would we tolerate overshoots . For a number of years between 2004 and 2008 we had a series of increases in oil prices that for a series of years raised inflation above. Again, we didnt have a 2 and 2 objective then. We judge those increases to be transitory as well. Looking through them, we do monitor Inflation Expectations very carefully. If we saw in a meaningful way that Inflation Expectations were either moving up in a way that made them seem unanchored or. Own, that would be of concern we have called attention to some slight downward movements and some survey measures. We are watchi
That we eventually want to operate with a much smaller Balance Sheet than we have at present. The, that we would reduce the size of the Balance Sheet to essentially, whatever size we needed to manage Monetary Policy effective in, in effective and efficient way. Now a lot has changed since prefinancial crisis in terms of the Financial System and, we are studying, were engaging in project at this time. To consider whether a longrun operating framework should look like. So, i cant tell you exactly what size of Balance Sheet we will determine is the best to operate in an efficient and effective manner. It might be somewhat larger than the very tiny quantity of reserves that we had precrisis. We have not determined that. We have also said that we will, we expect to reduce the size of our Balance Sheet overtime by ceasing diminishing, ceasing entirely reinvestments and beyond that we havent given Additional Guidance other than to say the timing of reductions in reinvestment will depend on ec
Coming employment, and inflation, and other factors. The actual path of the federal funds rate will depend on the Economic Outlook as informed by incoming data. Out growth and rapid inflation would suggest the neutral federal funds rate was rising were quickly than expected. Making it appropriate to raise the federal funds rate as well. Conversely if the economy were to disappoint, the federal funds rate would likely rise more slowly. The committee will continue with policy of reinvesting proceeds from maturing treasury securities and principle payments from agency debt and Mortgage Backed securities. As highlighted in our policy statement, we anticipate continuing this policy until normalization of the level of the federal funds rate is well underway. Maintaining our sizable holdings of longerterm securities should help maintain accommodative financial conditions and should reduce the risk that the federal funds rate might return to the effective lower bound in the event of future adv
Down, that would be of concern. We have called attention to some inght downward movements survey measures. We are watching that. I still judge that Inflation Expectations are reasonably wellanchored. Inflationve tolerated shortfalls that we thought would disappear over the medium term. Just as we did overshoots of inflation that we also judged to be transitory. But we do need to monitor inflation very carefully because if Energy Prices and the dollar prices,stabilize import our expectation is headline and core inflation would move up, and if we failed to see that occurring in a manner that we expect, of course, we would need totake further action reconsider the outlook and to put in place appropriate policy. What with that action look like . Wereellen if the economy disappointing, our actions would not really be based on inflation. We would take employment into account. I cannot give you a simple answer. But we would pursue a more accommodative policy, because we do certainly are a cur
Make up a normal person. Appreciate you bringing those issues to us. Separateperry did planned parenthood funding from medicaid funding. But i can tell you is that there was a departure from using medicaid funding at planned parenthood. Texas set up a separate fund which they used state moneys four. From all appearances the last legislative session and seem to be working quite well. It has been in the process. I will yield back the balance of my time. Mr. Collins we have long conversation before hand a lot of these issues. This is going to start on the path that we need to go. These are things that will get fixed as we go. I dont think the amendment of someone the rest into their sexual orientation. Ive heard that argument but i dont buy into it and it is very good the you brought it before us. Im happy to sit here for four hours listen to it. I think that that is a comment well said, we will stay here all day all night whatever it takes. Your support for you believe in and your repres