Gary H. Stern, President, Federal Reserve Bank of Minneapolis, on how economic progress requires commitment and communication.

Gary Stern’s remarks at the European Economics and Financial Centre in London, March 2008.

We deduce properties of optimal monetary policies based on modern theory and standard empirical findings. In light of this analysis, we examine FOMC policy procedures and conclude that they put too much emphasis on short-term economic stabilization and too little emphasis on longer-term price...

Gary H. Stern comments to the U.S. Monetary Policy Forum.