Comment: The Fed's 'asymmetric policy'

Donald Kohn said yesterday that the perception that the Fed responds asymmetrically to asset prices is "a misreading of history". Not only has the idea of a 'Greenspan put' been debunked by the experiences of the last five years, but it is also inaccurate to suggest that the Fed "does not act on the upside", Kohn argued.


Speaking at a colloquium in honour of departing ECB chief economist, Otmar Issing, Kohn said the Fed "has responded symmetrically to the implications of

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