There, his opinions about domestic monetary policy would be more important.

The inflation outlook is particularly uncertain and there are limits to what domestic monetary policy can achieve.

In addition, a fixed exchange rate prevents a government from using domestic monetary policy in order to achieve macroeconomic stability.

This means imposing a tight domestic monetary policy, which, as already pointed out, is very distasteful to most governments, and especially to socialist governments.

Calls on the United States, in implementing its domestic monetary policies, not to exacerbate the problem of the global balance of exchange rates.

Subcommittee on Domestic Monetary Policy and Technology (Chairman)

He made a similar statement today to the House Banking Committee's Subcommittee on Domestic Monetary Policy.

His request for hearings would be honored by the House Subcommittee on Domestic Monetary Policy, subcommittee aides said.

Use of the mark for reserves can make it more difficult for the Bundesbank to manage domestic monetary policy because large holdings are out reach of the central bank.

But public hearings before the House Banking Committee's subcommittee on domestic monetary policy, scheduled to begin Oct. 25, will provide a forum for critics and friends alike.

Mr. Breeden said to the members of the House Banking Committee's Subcommittee on Domestic Monetary Policy.

For example, imagine a situation of a 'tight' domestic monetary policy, in which UK banks are operating at or near the limit of their desired balances: deposits ratio.

It follows that turbulent activity in foreign exchange markets can cause a central bank to lose control of domestic monetary policy when it is also managing the exchange rate.

Domestic Monetary Policy and Technology (Mel Watt, Chair; Ron Paul, Ranking)

Dr. Paul understands money and is chairman of the House Financial Services Subcommittee on Domestic Monetary Policy and Technology.

He said the reason that it was not feasible was because "there is essentially no government in the world that is willing to surrender control over its domestic monetary policy."

Under perfect capital mobility, the change in reserves is a temporary measure, since the fixed exchange rate attaches the domestic monetary policy to that of the country of the base currency.

Under the 19th century Gold Standard, policy makers gave up independent domestic monetary policy in favour of a system of fixed exchange rates (tied to gold) and free-moving capital.

In the 111th Congress it was split into two subcommittees: Domestic Monetary Policy and Technology, and International Monetary Policy and Trade.

The anti-inflation measure under consideration today is sponsored by Representative Stephen L. Neal, a North Carolina Democrat who is chairman of the subcommittee on domestic monetary policy.

"Recent developments suggest that the balance of risks may have shifted somewhat away from greater inflation," Mr. Greenspan told the House Banking Committee's Subcommittee on Domestic Monetary Policy.

As a member of the Subcommittee on Domestic Monetary Policy and Technology, David will be examining our domestic monetary policy, including the Federal Reserve.

Even in this relaxed form, ERM-I proved vulnerable, and ten months later the rules were relaxed further to the point of imposing very little constraint on the domestic monetary policies of member states.

The Federal Reserve, he said, "will find itself in a difficult position about mid-1988, with a choice of further supporting the strength of the dollar, or becoming significantly more accommodating with regard to domestic monetary policy.

Testifying before the House Banking Committee's subcommittee on domestic monetary policy, Mr. Greenspan welcomed legislation that would instruct the central bank to adopt a monetary policy to "eliminate" inflation over five years.