SNB’s Jordan praises John Taylor legacy
Thomas Jordan, the chairman of the governing board of the Swiss National Bank (SNB), praised John Taylor’s role in modernising monetary policy in a speech on September 21.
“By the late 1980s, many people were arguing that efficient rules would have to be very complex, and expressed severe doubts about the practicability of rules for monetary policy,” said Jordan.
“John decided it was time to write down a workable rule that was consistent with his research. The result was a simple equation to
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