Monetary Variability: United States and Japan: Note
回应了关于美国货币增长波动性高的批评，引用沃尔克主席的证词指出美国货币总量的波动性在国际比较中处于较低水平。
Many economists have criticized the Federal Reserve because of the high variability of monetary growth in the United States since the change in operating procedures on October 6, 1979. Chairman Paul Volcker has responded to this criticism in congressional testimony (November 19, 1980) and in a letter to Senator Garn (February 18, 1982) by asserting that . . all appear to demonstrate the same point: U.S. monetary aggregates rank at or near the top of the league in terms of low variability, and this is true even allowing for the technical difficulties involved in making such international comparisons.