Abstract
During much of my professional life, academics have engaged in discussions with Federal Reserve officials and spokesmen about policies, policy procedures, and implementation. When Federal Reserve spokesmen have responded to some of the comments, proposals, criticisms, and analysis of past policies, their responses have too often been:“We know better. We have considered something of that kind, and it doesn’t work. Trust us; we know what we are doing.”
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References
Axilrod, S., Meltzer, A., Rasche, R., and Sternlight, P. 1982.“Money, Credit and Banking Debate: Is the Federal Reserve’s Policy Misdirected?” Journal of Money, Credit and Banking 14 (February): 119–147.
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© 1991 Springer Science+Business Media New York
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Meltzer, A.H. (1991). Reply to Donald Kohn. In: Belongia, M.T. (eds) Monetary Policy on the 75th Anniversary of the Federal Reserve System. Springer, Dordrecht. https://doi.org/10.1007/978-94-011-3888-8_5
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DOI: https://doi.org/10.1007/978-94-011-3888-8_5
Publisher Name: Springer, Dordrecht
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