William McChesney Martin, who was Federal Reserve chairman from 1951 to 1970, was once quoted as saying,

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William McChesney Martin, who was Federal Reserve chairman from 1951 to 1970, was once quoted as saying, "The role of the Federal Reserve is to remove the punchbowl just as the party gets going." What did he mean?

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Economics

ISBN: 978-0134106243

6th edition

Authors: R. Glenn Hubbard

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Question Posted: Nov 01, 2017 07:54 AM

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William McChesney Martin, who was Federal Reserve chairman from 1951 to 1970, was once quoted as saying,

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William McChesney Martin meant that if real GDP exceeds potential GDP the party is ge...View the full answer

Economics

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