Mises Daily
Author:
Frederick J. Sheehan
Online Publish Date:
At the March 2004 meeting, Federal Reserve Governor Donald Kohn stated the FOMC’s mission: “Policy accommodation — and the expectation that it will persist — is rates. That was in 2004 — and we know how badly this central-planning effort failed. Now in 2010, what in the world is the FOMC trying to manage to prevent an