Skip to main content

November/December 2000, 
Vol. 82, No. 6
Posted 2000-11-01

What Should Central Banks Do?

by Frederic S. Mishkin

The lecture published here examines what we have learned about how central banks should be set up to conduct monetary policy. It provides seven guiding principles for central banks and then applies them to see whether there is room for improvement in the way the Federal Reserve System operates.