#10: William White on the Undesired Side Effects of Experimental Monetary Policy
Superinvestors and the Art of Worldly Wisdom
The Role of Central Banks in Experimental Monetary Policy
I'm very curious to know about the unintended or consequences of experimental discretionary monetary policy. What are your thoughts on more of a rules-based policy, something along the lines of a Taylor rule for central banks? I think there's a considerable degree of discretion that is required of any central bank in the conduct of policy. There ought to be much more emphasis on the potential unexpected consequences of what central banks do.
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