Regional President Speech

Speeches by Bob McTeer An excerpt from speeches before the Texas Economic Development Council and Best Southwest Partnership Dallas, Texas Sept. 20, 2001 Guilt over spending is a noble impulse. We naturally feel guilty enjoying ourselves so soon after such a tragedy. But although it's a noble impulse, it reflects a misunderstanding of how the economy works. People should realize that one person's consumption is another person's production. One person's spending is another person's income—and job. I won't say, "Go spend." That would sound crass. But I will suggest that we all try to "get back to normal." If you had been planning to buy something, buy it. If you had been planning to take a trip, take it. Our decisions in these matters affect others as well as ourselves.

Robert D. McTeer Jr. (2001, September 19). Regional President Speech. Speeches, Federal Reserve. https://whenthefedspeaks.com/doc/regional_speeche_20010920_robert_d_mcteer_jr

@misc{wtfs_regional_speeche_20010920_robert_d_mcteer_jr,
  author = {Robert D. McTeer Jr.},
  title = {Regional President Speech},
  year = {2001},
  month = {Sep},
  howpublished = {Speeches, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/regional_speeche_20010920_robert_d_mcteer_jr},
  note = {Retrieved via When the Fed Speaks corpus}
}