Ludwig von Mises Institute - Tu Ne Cede Malis
Advancing the scholarship of liberty in the tradition of the Austrian School.
Always one of the more sensible of our supposed monetary Guardians, Jerry Jordan, former President of the Cleveland Regional Fed has contributed a piece to the St. Louis Fed's latest 'Review' in which he draws extensively - if not 100% correctly - upon Hayek and Mises
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Comments (3)
RogerM
Very interesting! Though not as detailed, an ECB official made similar comments recently. Can we actually allow a small bit of hope that at least central bankers are beginning to see the light? After all, who could end the long tyranny of central bankers more quickly than central bankers?
Published: December 4, 2006 2:13 PM
Angelo
Not if Alan Greenspan could become Fed Chairman.
Published: December 4, 2006 2:26 PM
Bill, skeptic
The author begins the article saying that monetary stability is the PRIMARY concern of central banks. Stability? Cut me a break. The Federal Reserver in its quest for monetary stability has reduced the value of the US currency by a factor of 20 since its inception. Basically, stability to the Fed is not having hyper-inflation like we have seen in some South American countries.
So lets have the Fed pat itself on the back for saving the US economy.
Published: December 4, 2006 4:00 PM