Fed exacerbating stagflation risk: Meltzer

The Federal Reserve's current policies mark a return to the dark days of the 1970s and carry the same threats, says Allan Meltzer, a professor at Carnegie Mellon University.

Meltzer writes in the Wall Street Journal, a newspaper, that recent actions mirror the Fed's behaviour three decades ago and reveal the institution as "a handmaiden beholden to political and market players".

"In the 1970s and again now, Federal Reserve officials repeatedly promised themselves and each other that they would

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: