# Professor William Silber on the impact of dissent within the Federal Reserve

1 Faculty News August 18, 2013 ![Wall Street Journal logo](/sites/default/files/styles/246w/public/assets/images/wsjlogo.jpg?itok=5Qt0z3WX)>

Excerpt from [The Wall Street Journal](http://online.wsj.com/article/SB10001424127887323455104579017213638168086.html) -- "When a Fed chairman doesn't command strong majorities, it undermines his voice domestically and globally and creates uncertainty about policy, said [William Silber](http://www.stern.nyu.edu/faculty/bio/william-silber), who documented those episodes in the Volcker biography, 'Volcker: The Triumph of Persistence.' 'Disagreement is healthy,' Mr. Silber said. 'Uncertainty is universally bad. It raises the cost of everything.'"

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