CSPAN2 Key Capitol Hill Hearings March 20, 2015
Of course, we are ready to provide information that Congress Needs to evaluate the feds Decision Making in Monetary Policy and elsewhere. With respect to Monetary Policy rules, they can be useful and i find them useful and long have as a kind of benchmark for thinking about what might be the appropriate stance of policy. But to chain a central bank to follow a simple mathematical rule that fails to take account of many things that are very important in making Monetary Policy, for example i was earlier asked about being against the euro lower bound which is an important special consideration, t...