Busted: Bankers and The Global Economy

September 21, 2007

Fed Speech Admits Failures and Humility

Filed under: banking, federal reserve, government, money — Tags: , , , , , — digitaleconomy @ 11:10 am

“Among the lessons… from the failed monetarist experiment are that central banking is an applied science and that our imperfect understanding of how economies and markets function implies that a good dose of humility is required…”
~ Vice Chairman Donald L. Kohn

Success and Failure of Monetary Policy since the 1950s


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