Comment: Bernanke's ally

The nomination of Frederic Mishkin to fill one of the two vacant seats on the Fed's board of governors will bolster the chairman, Ben Bernanke, in his attempts to quantify the central bank's inflation objective and move towards a more rule-based monetary policy framework.


The US president, George W. Bush, announced on 30 June that Mishkin, a prominent academic economist at Columbia University in New York, has been nominated to replace Roger Ferguson, who left the Fed in

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