Let me offer some examples. At one Fed meeting, the discussion droned on about the latest macroeconomics developments. Suddenly Chairman Greenspan broke in:"This is all very interesting, but does anyone know the latest price of tomatoes?" (There had been a freeze in California and some other parts of the country.) The staff went crazy, as did several board members. "What do tomatoes have to do with monetary policy?" one board member asked incredulously. Watching it all in frustration was the head of research. First, Volcker ignored his department. Now, Greenspan was running the staff ragged in search of seemingly arcane data.
Top answer
First, Volcker intentionally disregarded the head of research's department. ie Volcker showed no interest in the department's research. Clive
— Clive
First, Volcker intentionally disregarded the head of research's department.
ie Volcker showed no interest in the department's research.
Clive
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