Speech

Defending central bank independence

Abstract: \"Monetary policy acts with a lag. I liken it to a good single malt whiskey or perhaps truly great tequila: It takes time before you feel its full effect. The Fed has to be very careful now to add just the right amount of stimulus to the punchbowl without mixing in the potential to juice up inflation once the effect of the new punch kicks in.\" ; Remarks at Instituto Tecnologico Autonomo de Mexico, Mexico City, Mexico, February 7, 2008.

Keywords: Federal Reserve System - Independence; Banks and banking, Central; Monetary policy;

Bibliographic Information

Provider: Federal Reserve Bank of Dallas

Part of Series: Speeches and Essays

Publication Date: 2008

Number: 33