Roger W. Ferguson Jr. focuses on two issues: (i) what constitutes good monetary policy practice, with a review of the Federal Reserve’s record in satisfying its mandates in recent decades, and (ii) how good policy outcomes come about. Charles A.E. Goodhart discusses that the United Kingdom was also considering a change in monetary control methods in the early autumn of 1979 and emphasizes the importance of central bank independence. William Poole addresses five points for policymaking: good science, market confidence in the central bank, price stability, the obligation of central bankers to communicate clearly with the general public, and not underestimating the role of leadership.