Central Banking Journal conducted this interview with Donald Kohn, the vice chairman of the Federal Reserve, on 9 July 2010 at the Washington, DC headquarters of the Board of Governors of the Federal Reserve System.
Central Banking (CB): What has been the greatest evolution in central banking during your 40 years at the Fed?
Donald Kohn (DK): I would emphasise two aspects. One is the experience in the 1970s that led central banks to begin putting much more emphasis on controlling inflation. We