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Federal Reserve Performance: Have Business Cycles Really Been Tamed?

Central banks … will do wisely to lay aside their inexpert ventures in half-baked monetary theory, meretricious statistical measures of trade and hasty grinding of the axes of speculative interests with their suggestion that by so doing they are achieving some sort of vague “stabilization” that will, in the long run, be for the greater good. ....

United States , Edwin Frickey , Paul Volcker , Stanley Lebergott , William Lastrapes , John Cornyn , George Selgin , Simon Kuznets , Martin Feldstein , Lawrence White , Kevin Brady , Arthur Burns , H Parker Willis , William Shaw , Federal Reserve , Us Commerce Department , Us Bureau Of Labor Statistic , National Bureau Of Economic Research , Centennial Monetary Commission , Gross National Product , Federal Reserve Board , Federal Reserve System , World War , Great Depression , Fed Tamed , National Bureau ,