Comments on the Federal Reserve - MIT Economic Model
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There are thirteen separate sectors or sections in the Federal Reserve- MIT model, but fortunately one section contains a set of national income accounts. If each member of the Open Market Committee manipulates his own section, each of the sections will be allocated and the computer can be assigned the task of keeping the national income accounts. One can think of some obvious assignments. Governor Maisel would probably get the housing market, and the New York Bank will surely try to wrest control of the financial sector from the Board of Governors.