The Federal Reserve's Shady Past

[Toddsterpatriot]

Ohhh, what kind of penalties?

they lose their jobs

All of them?

A mechanism for holding the Reserve Bank Governor accountable was written into the Act by (1) making the Governor directly responsible for the conduct of monetary policy, and (2) allowing for the Governor’s dismissal if the goals established in the PTA are not met.

This structure makes responsibility clear: The Governor, and not a committee such as the FOMC, is responsible for policy decisions, and success or failure to fulfill the goals of the PTA are transparent–the inflation rate as measured by the CPI is frequently available and widely publicized.

The realize that the Fed doesn't have absolute control over interest rates or inflation, right?

not sure what the details are or if anybody actually got fired.

You don't know the details of the Fed not having absolute control over interest rates or inflation?

 

[EdwardBaiamonte]

they lose their jobs

All of them?

A mechanism for holding the Reserve Bank Governor accountable was written into the Act by (1) making the Governor directly responsible for the conduct of monetary policy, and (2) allowing for the Governor’s dismissal if the goals established in the PTA are not met.

This structure makes responsibility clear: The Governor, and not a committee such as the FOMC, is responsible for policy decisions, and success or failure to fulfill the goals of the PTA are transparent–the inflation rate as measured by the CPI is frequently available and widely publicized.

The realize that the Fed doesn't have absolute control over interest rates or inflation, right?

not sure what the details are or if anybody actually got fired.

You don't know the details of the Fed not having absolute control over interest rates or inflation?

I assume NZ fed gets target range around 0--3% and head guy gets fired if he does not hit target

 

[Toddsterpatriot]

All of them?

A mechanism for holding the Reserve Bank Governor accountable was written into the Act by (1) making the Governor directly responsible for the conduct of monetary policy, and (2) allowing for the Governor’s dismissal if the goals established in the PTA are not met.

This structure makes responsibility clear: The Governor, and not a committee such as the FOMC, is responsible for policy decisions, and success or failure to fulfill the goals of the PTA are transparent–the inflation rate as measured by the CPI is frequently available and widely publicized.

The realize that the Fed doesn't have absolute control over interest rates or inflation, right?

not sure what the details are or if anybody actually got fired.

You don't know the details of the Fed not having absolute control over interest rates or inflation?

I assume NZ fed gets target range around 0--3% and head guy gets fired if he does not hit target

NZ?

When is the last time they missed 0-3%?

 

[EdwardBaiamonte]

A mechanism for holding the Reserve Bank Governor accountable was written into the Act by (1) making the Governor directly responsible for the conduct of monetary policy, and (2) allowing for the Governor’s dismissal if the goals established in the PTA are not met.

This structure makes responsibility clear: The Governor, and not a committee such as the FOMC, is responsible for policy decisions, and success or failure to fulfill the goals of the PTA are transparent–the inflation rate as measured by the CPI is frequently available and widely publicized.

The realize that the Fed doesn't have absolute control over interest rates or inflation, right?

not sure what the details are or if anybody actually got fired.

You don't know the details of the Fed not having absolute control over interest rates or inflation?

I assume NZ fed gets target range around 0--3% and head guy gets fired if he does not hit target

NZ?

When is the last time they missed 0-3%?

I assume they hit the very narrow target range all the time or close to it.

 

[Toddsterpatriot]

The realize that the Fed doesn't have absolute control over interest rates or inflation, right?

not sure what the details are or if anybody actually got fired.

You don't know the details of the Fed not having absolute control over interest rates or inflation?

I assume NZ fed gets target range around 0--3% and head guy gets fired if he does not hit target

NZ?

When is the last time they missed 0-3%?

I assume they hit the very narrow target range all the time or close to it.

What is the NZ you referenced?

 

[EdwardBaiamonte]

I assume they hit the very narrow target range all the time or close to it.

What is the NZ you referenced?[/QUOTE]New Zealand