Some Lessons for Markets and Policymakers I hope that the important question that this discussion has been pointing to is obvious by now: How can we -- the Federal and the Private Open Market Committees -- operate to deliver the greatest good for the American economy while you respect your obligation to stakeholders to maximize their return?
I think that there are two parts to the answer: We should work at arm’s length but with full information. By arm’s length, I mean that the information markets provide works best as an independent check on monetary policy decisions.