11/26/04
Is the monopolistic power of the Federal Reserve the best mechanism for Americans to achieve a healthy economy and sound banking system (“Greenspan’s Legacy—The Navigator -- Fed Chief’s Style: Devour the Data, Beware of Dogma,” Nov. 18)? Shall we all collectively cross our fingers and hope the “secrets in Mr. Greenspan’s head” somehow telepathically transmit to the next Fed chairman? We can do better. Let’s not only reform Social Security, but let’s also reform the Federal Reserve. Each American’s economic fortune shouldn’t rest in one person’s hands, but in one’s own.
Marshall L. Stocker, CFA
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