"Financial markets, along with households and businesses, seem to be reasonably well prepared to cope with a transition to a more neutral stance of monetary policy, ... Although many factors may affect inflation in the short-run, inflation in the long-run, it is important to remind ourselves, is a monetary phenomenon."
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"These products could be cause for some concern both because they expose borrowers to more interest-rate and house-price risk than the standard 30-year, fixed-rate mortgage and because they are seen as vehicles that enable marginally qualified, highly leveraged borrowers to purchase homes at inflated prices,"
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"Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices, ... This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums."
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Arguably one of the greatest football coaches in history, Vince Lombardi served as head coach and general manager of the Green Bay Packers during the 1960's. He was known for his passion for discipline and execution, which led the Packers to five NFL Championships and two Super Bowl wins. His post season record was an astounding 9 and 1, his only loss coming in 1960. He later served as coach, general manager and part owner of the Washington Redskins, which had its first winning season in 14 years under his command. The National Football League's Super Bowl Trophy is named in his honor.
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