米国の茶会(Tea Party)の中には中央銀行廃止論があって，それについてまともに議論する気にはなれないのですが，中央銀行の役割の限定という題で，FRB PhiladelphiaのPresident Charles I. Plosserが講演をしています。ハイライトは次の通りです。

• President Charles Plosser discusses what he believes is the Federal Reserve’s essential role and proposes how this institution might be improved to better fulfill that role.
• President Plosser proposes four limits on the central bank that would limit discretion and improve outcomes and accountability.
  • First, limit the Fed’s monetary policy goals to a narrow mandate in which price stability is the sole, or at least the primary, objective;
  • Second, limit the types of assets that the Fed can hold on its balance sheet to Treasury securities;
  • Third, limit the Fed’s discretion in monetary policymaking by requiring a systematic, rule-like approach;
  • And fourth, limit the boundaries of its lender-of-last-resort credit extension.
• These steps would yield a more limited central bank. In doing so, they would help preserve the central bank’s independence, thereby improving the effectiveness of monetary policy, and they would make it easier for the public to hold the Fed accountable for its policy decisions.

via The Big Picture