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Monetary Mystique and the Fed’s Path Toward Increased Transparency

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  • Svensson, Lars E.O.

Abstract

Marvin Goodfriend’s paper “Monetary Mystique: Secrecy and Central Banking†is a masterpiece: It is an extremely well-written, meticulous, and fair analysis and critique of the Federal Reserve’s defense of its practice of secrecy in monetary policy and central banking. His critique was devastating, and he completely demolished the Federal Open Market Committee’s (FOMC) arguments in the most precise and convincing way. Nevertheless, it took the Fed many years to reach the current standards of transparency and accountability in monetary policy.

Suggested Citation

  • Svensson, Lars E.O., 2022. "Monetary Mystique and the Fed’s Path Toward Increased Transparency," CEPR Discussion Papers 17390, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:17390
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    More about this item

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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