The time lag averages roughly four quarters, 12 months, but Friedman said not only that the time lags are long, but also that they are variable.
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If and when the crisis eases, Mr Tucker said you would hope and expect that banks would not feel the need for such a security blanket, but that time had not arrived yet.
But that time is not now and it's actually not for some time, I believe.
Not that targets or time tables are not important, but that is not enough and that you have to do something to change technology.
William White of the Dallas Fed has argued powerfully that not only is this time not being used well, but that ultra-low interest rates may ultimately make the problem worse.
He said it had previously been discussed when he was a Wales Office minister but was not pursued at that time because it could have interfered with the legal case.
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Not only that, but by the time I wrote about him he was not only back but flourishing.
The commission now has until July 26 to finalize its report, but that report may not be released publicly at that time, pending a security review by the White House.
Hart will look to build on the spirit and commitment that his hastily-assembled side showed even after falling behind but will know that time is not on his side.
In a bizarre but not unexpected role reversal, Democrats insist that at a time of economic uncertainty, Congress must not only extend this tax cut but make it even more generous.
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Despite the fact that Tredaptive had not shown a benefit, the recommendation at that time was that patients should not start the drug but that those who were taking it did not need to stop.
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And, you know, there are times to have those discussions, but that time is not now.
But that time is not unlimited.
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More broadly, fueling the growing confidence in stocks is a sense that the U.S. economy is healthy enough that recession isn't a concern, but at the same time, not so strong that the Federal Reserve will pull back on its aggressive measures to ease monetary policy.
There are times when refinancing is profitable for banks, and lenders might be willing to work borrowers at that time, but that is a luxury, not an expectation.
Three years ago, a BBC Trust report said the "scale and nature of the Lonely Planet acquisition" would not be considered again but at the time, it said that Lonely Planet would not be sold off.
The IAAF ruled that the blades gave him an unfair advantage, but he overturned that ruling -- though not in time for him to qualify for Beijing.
Making any mistake once was OK, but repeating that same mistake a second time was NOT OK. The hard, fast rule was that if you made any mistake for the first time the entire team would have your back in fixing that mistake if anything went wrong.
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For an operation as bloated as the federal government such cuts should actually lead to improved performance by, among other things, eliminating those functions that may at one time have made sense, but that are now expensive distractions, expensive not only in terms of money, but also in vital management time.
But this is not the first time that misguided politicians have led populist measures.
Next on the agenda is raising new capital, but that might not happen for some time.
But Sony says that time is not now, or at least not yet.
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But even that lead time would not necessarily have persuaded Ernst Kiesling to try to race out of harm's way.
These kinds of speeds are actually part of 3G, but this is not the first time that hype has triumphed over reality.
But that time "had not been used to reach lasting solutions".
The commission's report is due by July 26, but it may not be released at that time because it is subject first to a security review by the White House.
But that also was not the first time.
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The idea that ultraviolet (UV) rays can inactivate viruses is not new, but this is the first time that such firm conclusions have been made in connection with the varicella-zoster virus, the herpes virus responsible for chickenpox and shingles.
In terms of countering the criticism, I think that today most people understand that Wikipedia is pretty good but not perfect, and that it is getting better all the time.
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