[单项选择]"You are not here to tell me what to do. You are here to tell me why I have done what I have already decided to do," Montagu Norman, the Bank of England’s longest-serving governor (1920-1944), is reputed to have once told his economic adviser. Today, thankfully, central banks aim to be more transparent in their decision making, as well as more rational. But achieving either of these things is not always easy. With the most laudable of intentions, the Federal Reserve, America’s central bank, may be about to take a step that could backfire.
Unlike the Fed, many other central banks have long declared explicit inflation targets and then set interest rates to try to meet these. Some economists have argued that the Fed should do the same. With Alan Greenspan, the Fed’s much-respected chairman, due to retire next year-after a mere 18 years in the job-some Fed officials want to adopt a target, presumably to maintain the central bank’s credibility in the scary new post-Greenspan era.
A. until what to do is clarified
B. until explicit inflation targets are declared
C. until increases in asset prices are curbed
D. until its efficiency is cast doubt on