The past few years have clearly shown, however, how things can go amiss. As the former Chief Economist of the IMF, Raghuram Rajan, put it: “Because [bankers’] business typically offers few pillars to which they can anchor their morality, their primary compass becomes how much money they can make” (Rajan 2010: 126).
Monetary Policy When the Goals Are Not Complementary A move to reduce the pace of asset purchases soon also is entirely consistent with the FOMC’s plan to pursue our longer-run maximum-employment and price-stability goals, and our new monetary policy strategy, which we refer to as our framework.