Having five independent, strong-willed, thoughtful members who could openly disagree about Fed policy would pull back the curtain on the charade that the Fed is led by an all-seeing maestro, exposing that there is no clearly 'right' federal funds rate to be calculated.

normativepending

Speaker

Michael Belongia

Evidence Quote

would really pull the curtain back from this the charade that that the Fed is led by this all-seeing wizard of monetary policy

Source

Michael Belongia on the Fed 01/11/2010EconTalk
Created: 6/15/2026, 9:37:51 AM

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