How many mandates does the Fed have? How many can it achieve?
On "Re-examining the Federal Reserve's Many Mandates on Its 100-Year Anniversary"

Shutterstock.com

Discretionary fiat-currency central banking is subject to high uncertainty. Therefore the attempts of central banks to “manage” financial and economic stability are inevitably subject to mistakes, and recurring big mistakes. The naive belief that any central bank, or anybody, could actually know enough about the future, and in particular about the future of complex, recursive globalized economies and financial markets, to be an economic “Maestro”, is a fundamental error.

How many mandates does the Fed have? How many can it achieve? by American Enterprise Institute

 

Also Visit
AEIdeas Blog The American Magazine
About the Author

 

Alex J.
Pollock

What's new on AEI

The Federal Reserve's policy dilemma
image Unemployment benefits barely soften the blow of joblessness
image Stop the US-China bilateral investment treaty talks
image US still has time to stake out a position of strength on Ukraine
AEI on Facebook
Events Calendar
  • 18
    MON
  • 19
    TUE
  • 20
    WED
  • 21
    THU
  • 22
    FRI
No events scheduled this day.
No events scheduled this day.
No events scheduled this day.
No events scheduled this day.
No events scheduled today.
No events scheduled this day.
No events scheduled this day.
No events scheduled this day.