Panel Session II remarks
Chapter in NBER book The Great Inflation: The Rebirth of Modern Central Banking (2013), Michael D. Bordo and Athanasios Orphanides, editors (p. 499 - 502)
---- Acknowledgements -----
At the time of these remarks I was a member of the Board of Governors of the Federal Reserve and had no other source of funding for my research.
Currently I am a Senior Fellow at the Brookings Institution, external member of the Financial Policy Committee at the Bank of England, and Senior Economic Strategist for the Potomac Research Group.