Greenspan on the Fed and the future

In closing remarks to the Jackson Hole symposium given on 27 August, Fed chairman Alan Greenspan said he will miss debates on the conduct of monetary policy with members of the Federal Open Market Committee.

The Federal Reserve is a remarkable institution, Greenspan said. "Aside from its technical expertise in supervision and regulation and in overseeing an increasingly complex payments system, it combines for monetary policy an academic sophistication and a market-sensitive understanding that is

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