:Fixed Point

Update. From the BBC website,

Chancellor Gordon Brown described Mr Friedman as “one of the great economic theorists” of the 20th century. He had a major influence on post-war economic policy not least in establishing the importance of credibility in monetary policy making,”

I think Milton’s views on central bank credibilty extended to replacing bankers with a computer and algorithm. A view which anticipated, particularly in the US, the sometimes hagiographic and always obsessive reporting of the personality and background of the Fed Chairmen.