# An op-ed by Nobel Laureate Prof Thomas Sargent & Prof William Silber on the Fed 1 Faculty News March 20, 2012 ![Financial Times logo](/sites/default/files/styles/246w/public/assets/images/uat_025700.jpg?itok=LSPbU2V1)> Excerpt from [Financial Times](http://www.ft.com/intl/cms/s/0/778eb1ce-7288-11e1-9c23-00144feab49a.html?ftcamp=published_links/rss/comment/feed//product) -- "Public pressures – as well as confrontations with presidents and Congress – to avoid high interest rates have derailed the Fed’s best intentions throughout history." [Read more ](http://www.ft.com/intl/cms/s/0/778eb1ce-7288-11e1-9c23-00144feab49a.html?ftcamp=published_links/rss/comment/feed//product)