Why should monetary policy be made by rule rather than discretion?
A) The economy is subject to a variety of random shocks.
B) Monetary policymakers are now allowed undisciplined discretion.
C) It is not clear how important political business cycles have been in the past.
D) Central banks can achieve credibility over time by backing up their words with deeds.

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The Answer of Why should monetary policy be made by rule rather than discretion?
A) The economy is subject to a variety of random shocks.
B) Monetary policymakers are now allowed undisciplined discretion.
C) It is not clear how important political business cycles have been in the past.
D) Central banks can achieve credibility over time by backing up their words with deeds.

Why Should Monetary Policy Be Made by Rule Rather Than