It is an established scientific fact that monetary policy has had virtually no effect on output and employment in the U.S. since the formation of the Fed.
Sentiment: NEGATIVE
Monetary policy itself cannot sensibly be directed at reducing imbalances.
The income effects in an economy always sum to zero.
Monetary policy is not a panacea.
The Federal Reserve cannot solve all the economy's problems on its own.
Production is the only answer to inflation.
The Federal Reserve has never suffered any losses in the course of its normal lending to banks and, now, to primary dealers.
Monetary policy cannot do much about long-run growth, all we can try to do is to try to smooth out periods where the economy is depressed because of lack of demand.
I don't want Congress setting monetary policy.
No one can forecast the economy with certainty.
A good monetary policy follows inflationary expectations and not historical numbers.