Comments on: Fed Transparency http://taxesandbudget-blog.ncpa.org/fed-transparency/ Insights on Taxes, Economic Policy, Federal Budget | NCPA Fri, 20 Nov 2009 19:34:42 -0600 http://wordpress.org/?v=2.8.4 hourly 1 By: Barry http://taxesandbudget-blog.ncpa.org/fed-transparency/comment-page-1/#comment-4178 Barry Fri, 21 Dec 2007 15:43:10 +0000 http://www.bob-mcteer-blog.com/fed-transparency/#comment-4178 Bob, Thanks for sharing. Personally, I believe transparency is a matter of perspective. Allowing and encouraging Fed officials to speak publicly of diverse views in real time allows market based feedback. And, I believe it allows for potentially quicker and more accurate Fed policy as the markets, not the Fed, are the prime mover of the economy. So, I like what we are seeing. But, Wall Street in particular will surely abuse this transparency if they can. So, I like the real time open thought processes but I believe future actions should be withheld until the point in time when the decisions are made. Is there anyone who truly believes making law or any other government action is pretty to watch? We know it's ugly. A by product of transparency to that ugliness as a society is to remind us that we never allow government to gain undue influence on our freedoms. Lack of transparency in government, as many of our forefathers including Kennedy and Jefferson have told us, has no place in our society. Actually, that is a polite interpretation. The Fed needs to be as transparent as possible. It is their duty as public stewards. Just an average citizen's opinion. Happy holidays! Bob,
Thanks for sharing. Personally, I believe transparency is a matter of perspective. Allowing and encouraging Fed officials to speak publicly of diverse views in real time allows market based feedback. And, I believe it allows for potentially quicker and more accurate Fed policy as the markets, not the Fed, are the prime mover of the economy. So, I like what we are seeing.

But, Wall Street in particular will surely abuse this transparency if they can. So, I like the real time open thought processes but I believe future actions should be withheld until the point in time when the decisions are made. Is there anyone who truly believes making law or any other government action is pretty to watch? We know it’s ugly. A by product of transparency to that ugliness as a society is to remind us that we never allow government to gain undue influence on our freedoms.

Lack of transparency in government, as many of our forefathers including Kennedy and Jefferson have told us, has no place in our society. Actually, that is a polite interpretation. The Fed needs to be as transparent as possible. It is their duty as public stewards.

Just an average citizen’s opinion. Happy holidays!

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