Time to break the rules

Article Abstract:

Central banks should do more than focus on inflation. The Federal Reserve should have paid more attention to the stock market, and extreme currency misalignments should be prevented. A simplistic approach should be avoided.

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Beware of heroes

Article Abstract:

The role and performance of central banks, and confidence in these institutions and their interest rate policies, are examined in detail.

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Money rules

Article Abstract:

There is a debate as to how central banks should decide on interest rate policies. Economists praised the US Federal Reserve for cutting rates in a move influenced by discretion, though economists tend to prefer rules. Discretion is seen as not very effective, and surprise actions cease to have an impact after the surprise element is lost. Federal Reserve chairman, Alan Greenspan, is respected, and this helps explain praise for his usage of discretion, but further explanation could help assessments of whether the move was wise.

Greenspan, Alan, United States economic conditions

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