Speech by Roger Ferguson, Federal Reserve, 9 Oct

SPEECH - Ferguson gave a speech 'Central Banks and Markets' on receiving the 2002 Distinguished Public Service Award from the Bond Market Association. In the speech he discussed the hot topic of whether central banks have a role in the control of asset prices through interest rate policy. Ferguson's view is that this can only be done if the relative price of the asset can predictably influenced and that secondly this move will have a 'predictable and significant' role in achieving the FOMC's

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