Research behind VAL - ED (the Vanderbilt Assessment of Leadership in Education tool to assess principal performance, developed by researchers at Vanderbilt University)
suggests that there are six key steps - or «processes» - that the effective principal takes when carrying out his or her most important leadership responsibilities: planning, implementing, supporting, advocating, communicating and monitoring.40 The school leader pressing for high academic standards would, for example, map out rigorous targets for improvements in learning (planning), get the faculty on board to do what's necessary to meet those targets (implementing), encourage students and teachers in meeting the goals (supporting), challenge
low expectations and
low district funding for students with special needs (advocating), make sure families are aware of the learning goals (communicating), and
keep on top of test results (monitoring).41
He is essentially
suggesting that the Fed's promise to investors to
keep rates
low for a long period of time - something stock investors typically cheer over the near - term - will in the end increase the probability that the Fed at some point will find itself powerless to the
expectations of the private sector and financial market participants.