Stanley Fischer argues for Central Bank Discretion

In a speech yesterday, Fischer says: Today I will offer some observations on monetary policy rules and their place in decision-making by the Federal Open Market Committee (FOMC). I have two messages. First, policymakers should consult the prescriptions of policy rules, but–almost needless to say–they should avoid applying them mechanically. Second, policymaking committees have strengths that…

This content is for Free Trial and Subscriber members only.
Log In Register
image_pdf
Share

Comments are closed, but trackbacks and pingbacks are open.