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Monetary law in the United States is ambiguous and chaotic, does
not contain a suitable principle for the exercise of the monetary
power held by the Federal Reserve System, andhas caused confusion
...
FED WATCHING AND THE MONETARY REGIME
Federal Reserve Open Market Committee MONETARY REGIME
2008/12/5
The Market for Fed Watching
The Federal Reserve’s Open MarketCommittee consists ofa dozen
unelected officials with enormous unguided authority to affect interest
rates, exchange rates, and prices, ...