Do you think the current policy of maintaining irreversible policy decisions is consistent with the principles of good central bank design?
Yes.
No.
Explain your answer. Choose one of the following:
- Irreversible policy decisions promote the independence of central bankers.
- Irreversible policy decisions promote increased accountability.
- The Fed is more transparent due to the irreversibility of its policy decisions.
- Irreversible policy decisions are inconsistent with central bank independence.