Preparing for the Post-Volcker Era at the Fed

Publication Date: October 1985

Publisher: Heritage Foundation (Washington, D.C.)

Author(s): David I. Fand

Research Area: Banking and finance

Keywords: Economy

Type: Report

Abstract:

The U.S. must free itself from the addiction to fine tuning and crisis management and limit the quantity of flat money that can be printed. The country needs a monetary system that gives the public confidence in the future--especially that the Fed will not simply print money to cover burgeoning deficits. There is widespread agreement that the U.S. should pursue this goal, but it has not been translated into a general agreement on the appropriate monetary regime that should be constructed.