The Fed's Real Job
Telser Lester G
The Economists' Voice, 2007, vol. 4, issue 4, 3
Abstract:
Business reporters and Fed watchers focus on monetary policy which is no longer--if it ever was--the Fed's main job, according to Lester Telser. Ben Bernanke's own research suggests that even long ago the main danger to the economy came from the non-monetary effects of disruptions in confidence in the soundness of the banking system, a fact that is all the more true today.
Date: 2007
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DOI: 10.2202/1553-3832.1247
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