Former Kansas Fed chief dies

Roger Guffey, the head of the Kansas City Federal Reserve from 1976 until 1991, has died.

Guffey, who was 79, passed away on Wednesday after an illness.

As a member of the Federal Open Market Committee, Guffey participated in the key meeting held in 6 October 1979, when the committee opted to shift to controlling the money supply rather than the federal funds rate, the central bank's target for the cost of overnight borrowing.

Commenting on the meeting in an interview, Guffey said: "I think

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