Fischer attacks ‘mechanical’ use of policy rules

Stanley Fischer - Bank of Israel

Federal Reserve vice-chairman Stanley Fischer has warned against the mechanical application of monetary policy rules, saying that monetary policy committees are a better framework for setting interest rates.  

Fischer was speaking at a conference at the Hoover Institution at Stanford University on May 5, in a session chaired by Stanford economist John Taylor. The latter’s most famous contribution to the literature on monetary policy was his formulation of the “Taylor rule” in a 1993 paper

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: