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Outside the Fed, Mr. Warsh will be better placed to make the case for monetary stringency than while belonging to the collegial Board of Governors.
As finance minister in the early 1990s, he pioneered the monetary stringency and free prices that, his fans say, kick-started Polish capitalism.
In practice, money supply responds to demand, partly because monetary authorities do not wish to see the dislocation of capital markets that would follow if monetary stringency produced very large rises in rates of interest.
Boutwell created monetary stringency by selling more gold then he bought bonds.
Similar(56)
Monetary and fiscal stringency left real output lower in 1928 than in 1918.
In private, they argue that a small deviation from German stringency would be acceptable if doing so promoted stability and improved overall European monetary discipline.
At the policy level, unconventional monetary and fiscal policy measures, like the ultra-loose quantitative easing in the USA and the large fiscal stringency plans in Europe, appeared to not have had the desired effects and are widely held to have inadequate policy responses.
The budgetary stringency is real.
Flexibility and stringency in greenhouse gas regulations.
Yet stringency is just what is needed.
The adviser says stringency is now unavoidable.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com