what is a dove 
a dove is an economic policy advisor who promotes monetary policies that usually involve low interest rates doves tend to support low interest rates and an expansionary monetary policy because they value indicators like low unemployment over keeping inflation low if an economist suggests that inflation has few negative effects or calls for quantitative easing then they are called a dove or labeled as dovish understanding dovedoves prefer low interest rates as a means of encouraging economic growth because they tend to increase demand for consumer borrowing and spur consumer spending as a result doves believe the negative effects of low interest rates are relatively negligible however if interest rates are kept low for an indefinite period of time inflation rises derived from the placid nature of the bird of the same name the term is the opposite of hawk a hawk is conversely someone who believes that higher interest rates will curb inflation this isn t the only instance in economics where animals are used as descriptors bull and bear are also used where the former refers to a market affected by rising prices while the latter is typically one when prices are falling examples of dovesin the united states doves tend to be the members of the federal reserve who are responsible for setting interest rates but the term also applies to journalists or politicians who lobby for low rates as well previous fed chairs ben bernanke and janet yellen were both considered doves for their commitment to low interest rates 12but people don t necessarily have to be one or the other in fact alan greenspan who served as chair of the federal reserve between 1987 and 2006 was said to be fairly hawkish but that stance changed over time and he eventually became more dovish as he navigated the bursting of the internet bubble of the 1990s as well as the impact of the attack of sept 11 2001 and other major world changing events 34realistically the people of the united states investors and non investors alike want a fed chair who can switch between hawk and dove depending on what the situation calls for doves consumer spending and inflation