The first steps towards developing a comprehensive assessment system that have already been incorporated in Italian legislation deserve to be followed by others, not least so as to permit better informed guidance of public action to govern and reform the school system. Somewhat similar considerations apply to universities, essential institutions for an economy that wishes to retain its place among the advanced countries.
If, for some reason, the Committee chose to deviate from the plan, it would be forced to explain its reasons to the public. This brings me to one final but important consideration for the Fed’s normalization strategy.