1. I still hope we eventually reach the point where monetary policy decisions by the Fed & the rest of the world's central banks will be set by transparent algorithms rather than the judgments of individual unelected bureaucrats.
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5. Of course, central banks do other things besides monetary policy, and so will always need qualified personnel. But the whole concept of trusting individuals to make subjective judgments - however well-informed - in this area will sooner or later be understood as archaic.
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