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"We're the only company that can go from devices to infrastructure to services to software and this is a huge point of difference," she said. "There's a lot to be said for HP today and we aim to prove that."
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You have no doubt been told that the global economy is recovering. But the recovery argument rests, in part, on the Fed using the wrong meter for growth. The Fed’s dual mandate requires it to maximize employment while controlling the rate of inflation. Fed Chair Ben Bernanke and his governors have been comfortable with inflation at a maximum of 2 percent annually, a cue followed by other bankers in the developed world. The problem with this, argues Reid, is that if inflation comes in at anything less than 2 percent, the Fed notches a win. If inflation is 1 percent, the price level is not as high as it would have been at 2 percent. The Fed has left economic growth on the table. Focusing on nominal GDP targeting would keep this from happening, assuming that the Fed can actually make up for lost ground through unconventional stimulus. As we have seen, the Fed’s typical stimulus response, which is to lower short-term interest rates, has its limits because rates can’t go lower than zero.



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