I think it would be a mistake based on the knowledge we have now about how central banks work, and how economies work, to change the dual mandate even when we are in recovery, I think it is the responsible and right thing to do.
Taylor argues against changing the dual mandate of central banks during recovery.
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I certainly don't want to--want my grandkids to see the crisis scenario, in which the interest rate on the debt will skyrocket abruptly because investors will no longer have confidence in our government's ability to pay its bills.
The Financial Institution Bankruptcy Act would work better, in my view, as a resolution device than Title II of Dodd-Frank.
I just do what I believe. And I believe that strong-mayor powers, aside from everything else, are a significantly bad idea.
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