• President Plosser gives his views on the economy and the FOMC's most recent policy decisions. He also discusses the benefits of rule-like, systematic behavior in the design and conduct of monetary policy and how this behavior combined with greater transparency leads to more effective communication. • President Plosser explains how a detailed monetary policy report could promote the FOMC to conduct policy in a more systematic manner, which he believes will lead to better decisions and better economic outcomes over the longer run. When policymakers deviate, it would require that they explain why. • President Plosser ... (full story)