At 10:25 PM 25-04-01, Edwin (Tom) Dickens
wrote:
Ferguson also says that the primary task of central banks is to get
monetary policy right--that is, to pursue policies that effectively
promote the objectives established by their legislatures or parliaments,
such as stable prices, full
Doug Henwood wrote:
It would, of course, be very clever of the Fed to announce their
commitment to transparency just as they were retreating from it. But
until they start acting that way, I'll take Ferguson at his word.
Doug
Ferguson also says that the primary task of central banks is to
Edwin Dickens wrote:
Ferguson also says that the primary task of central banks is to get
monetary policy right--that is, to pursue policies that effectively
promote the objectives established by their legislatures or parliaments,
such as stable prices, full employment, and maximum sustainable
Apropos the Fed's newish regime of transparency, which came up here
the other day, vice-chair Roger Ferguson gave a speech on this topic
last week
http://www.federalreserve.gov/BoardDocs/Speeches/2001/20010419/default.htm.
He sounds rather committed to the idea, for two major reasons: first,
