a very annoying catch phrase, normally said by immature freshmen, that is used to down-play the fact that the speaker of the phrase isn't as good at something as they claim they are. It is also used to annoy the crap out of everyone around them because the speaker could not think of something more intelligent to say.
In the European Union, the EUROPEAN CENTRAL BANK (ECB) is responsible for monetary policy in general and for setting interest rates in particular for member countries of the ECONOMIC AND MONETARY UNION (EMU). The ECB has committed itself to a âtarget'for INFLATION of no more than 2% per annum.
The Basics of Fiscal Policy In this section we will cover the basics of fiscal policy. Fiscal policy is carried out by the executive and legislative branches of government that make policy regarding government spending programs and taxation. Unlike monetary policy that can be changed by the Chairman of the Federal Reserve immediately, fiscal policy is part of the process of making laws and government budgeting, although emergency expenditures can be undertaken.