TAILIEUCHUNG - Economic Considerations in Thinking About United States Marine Aquaculture

However, such a strategy is inappropriate for the United States in current circumstances. Inflation expectations appear reasonably well-anchored, and both inflation expectations and actual inflation remain within a range consistent with price stability. In this context, raising the inflation objective would likely entail much greater costs than benefits. Inflation would be higher and probably more volatile under such a policy, undermining confidence and the ability of firms and households to make longer- term plans, while squandering the Fed’s hard-won inflation credibility. Inflation expectations would also likely become significantly less stable, and risk premiums in asset markets--including inflation. | Economic Considerations in Thinking About United States Marine Aquaculture Gunnar Knapp Professor of Economics Institute of Social and Economic Research University of Alaska Anchorage Prepared for presentation to the NOAA Marine Fisheries Advisory Committee Juneau Alaska August 11 2004 My Background for Talking About Aquaculture I ve spent many years studying markets for wild fisheries It is impossible to understand seafood markets without understanding what is happening in aquaculture I have tried to learn as much as I can about aquaculture I have visited aquaculture operations in Canada Norway Chile Iceland and Japan Why am I here I was invited by MAFAC I am speaking for myself I am not representing - the State of Alaska - wild fisheries - aquaculture .

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