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  • No major institution in the US has so poor a record of performance over so long a period as the Federal Reserve, yet so high a public reputation.

    Milton Friedman
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    1988 'The Fed Has No Clothes', in The Wall Street Journal,15 Apr.
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No major institution in the US has so poor a record of performance over so long a period as the Federal Reserve, yet so high a public reputation. - Milton Friedman
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