Date of Original Version

1990

Type

Response or Comment

Abstract or Description

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 analyses 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."

Comments

Presented at Federal Reserve Bank event. [1990]

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