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21 August, 18:12

Which of the statements below correctly relates Blinder's findings to the argument that the tradition of a strong chairman in the United States reduces the effectiveness of monetary policy?

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  1. 21 August, 19:46
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    If the chairman of the Federal Reserve is too powerful, and the rest of the board members do not really have a say in monetary policy, then, monetary policy can be less efective because it may be subject to the bad personal judgmenet of the chairman, instead of being pondered by a committee that includes diverging ideas.
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