Theoretical elegance within the confines of the spaces occupied by trained economists is one thing: relevance to, and understanding by, a broader public whose lives are affected by the actions of Central Banks is another. My purpose today is to speak to the latter. 2.
The Friedman Statement  For my purpose today, the questions to which answers are required are, in the main, those to which the 1967 – address was directed, namely: i)  what monetary policy cannot do. ii)  what monetary policy can do.