§ Time-consistency & credibility. Focus on long-term objectives, such as promoting a stable price level, instead of short-term solutions to problems, such as high unemployment and high interest rates. Review collected by and hosted on G2.com.

The independent central bank has not always used its freedom successfully, for example, the Federal Reserve failed miserably in its stated role as lender of last resort during the Great Depression. Review collected by and hosted on G2.com.