Plosser’s speech updates Milton Friedman’s 1967 presidential speech to the AEA and quotes from it. “…We are in danger of assigning to monetary policy a larger role than it can perform, in danger of asking it to accomplish tasks that it cannot achieve, and, as a result, in danger of preventing it from making the contribution that it is capable of making.”” Read more.
“The Fed Has No Clothes”
Wall Street Pit, January 18, 2011.
Image by Carlos Porto / FreeDigitalPhotos.net.