Monetary policy rules should be designed to avoid the pitfalls of discretionary policy, which often leads to time inconsistency.
货币政策规则的设计应避免自由裁量政策的陷阱,后者往往导致时间不一致性。
"The best and most beautiful things in the world cannot be seen or even touched - they must be felt with the heart."
领导力是激励他人在曾经看到局限的地方看到可能性。
The fact remains that getting people right is not what living is all about anyway. It's getting them wrong that is living, getting them wrong and wrong and wrong and then, on careful reconsideration, getting them wrong again.