The draft resolution also refers to the Beige Book of the Federal Reserve System as being a benchmark for country-by-country reviews to be conducted by the Eurosystem. Let me point out that the national central banks within the Eurosystem regularly monitor and analyse macroeconomic, fiscal as well as structural developments in their respective countries, publishing their findings in their monthly, quarterly or annual reports.
It provides evidence of the depth of understanding and analysis by FOMC members and supports the integrity of FOMC voting patterns when observers note that Ben and Don have recorded identical votes during their tenures. One other thought on the FOMC tendency for unanimous votes concerns the nature of Chairman Greenspan's leadership. The Chairman encourages forthright and thorough discussion.