Nation: A Maverick for Treasury

G. William Miller likes to tell the story of a mythical poll in which the American people were asked to define what the Federal Reserve actually was. According to Miller, 23% of them said it was an Indian reservation, 26% thought it a wildlife preserve and 51% identified it as a brand of whisky.

In his 16 months as chairman of the Fed, Bill Miller, 54, has been something of a maverick. He speaks freely to the press, signs most of his business letters Bill, and takes off his jacket on occasion at congressional hearings. A businessman and lawyer rather than...

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