The governors of the Federal Reserve Board and the presidents
of the 12 regional Federal Reserve banks now have to
shoulder the task of getting us through the next recession without
a deflationary spiral, and through the next bubble without too
much damage to the financial system and the economy. Later in
this book, we look at their ability to do this and propose a tool
for managing monetary policy that would be helpful to both investors
and the policy makers at the nation’s central bank.
of the 12 regional Federal Reserve banks now have to
shoulder the task of getting us through the next recession without
a deflationary spiral, and through the next bubble without too
much damage to the financial system and the economy. Later in
this book, we look at their ability to do this and propose a tool
for managing monetary policy that would be helpful to both investors
and the policy makers at the nation’s central bank.
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