John B. Taylor: “However, it has been a very weak recovery by any historical comparison, and that is why the unemployment rate is still…”

You don't increase taxes.

The powers are almost like a virus in the body politic of municipal democracy.

Central-bank independence is very important, but it doesn't seem to have been enough to prevent these swings towards more interventionist discretionary policy compared to a rules-based policy.

A clear monetary strategy is essential for good economic performance.