The Flip Flop Fed

(September 2007—May 2008)
We’re firm in our convictions
And we’ll stick with our priorities,
For us a weak economy
Will always cause the most unease,
We’ll lower rates, if that’s the need
To get an upturn into gear,
And if this boosts inflation, well,
That’s something we don’t really fear.

(June 2008—Who Knows?)
We’re firm in our convictions
And we know our true priorities,
For us when prices hit the roof
We see this as the worst disease,
So ‘gainst inflation we’ll jawbone
And if big price jumps that don’t cap,
We’ll just start raising rates again
About inflation we ne’er nap.

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