Ben Bernanke Quotes
Under constrained discretion, the central bank is free to do its best to stabilize output and employment in the face of short-run disturbances, with the appropriate caution born of our imperfect knowledge of the economy and of the effects of policy (this is the 'discretion' part of constrained discretion). 
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Constrained | Discretion | Central | Bank | Free |
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Doing this well requires a deep knowledge of the data mixed with a goodly dose of economic theory and economic judgment... Greenspan is, of course, a master.
- Ben Bernanke
