Janet Yellen will likely expand on Bernanke’s policy mix. She will sponsor Fed activism; she will continue to enable the Washington left.
In a recent sketch, Thomas Sowell, the Milton Friedman Senior Fellow on Public Policy at the Hoover Institution notes that Yellen has a history of asking the right questions and giving the wrong answers: “Will capitalist economies operate at full employment in the absence of routine intervention,” she asked. “Certainly not” was her answer. “Do policy makers have the knowledge and ability to improve macroeconomic outcomes rather than making matters worse,” she asked. “Yes.”
This reality -Yellen as chair - will prove to be a retardant to US growth.
We are going nowhere, and quickly. Any recovery will be in spite of, not because of this individual’s policies. Normal free-market pricing mechanisms will remain unplugged.
Calvin Coolidge, help us.
Robert Craven
In a recent sketch, Thomas Sowell, the Milton Friedman Senior Fellow on Public Policy at the Hoover Institution notes that Yellen has a history of asking the right questions and giving the wrong answers: “Will capitalist economies operate at full employment in the absence of routine intervention,” she asked. “Certainly not” was her answer. “Do policy makers have the knowledge and ability to improve macroeconomic outcomes rather than making matters worse,” she asked. “Yes.”
This reality -Yellen as chair - will prove to be a retardant to US growth.
We are going nowhere, and quickly. Any recovery will be in spite of, not because of this individual’s policies. Normal free-market pricing mechanisms will remain unplugged.
Calvin Coolidge, help us.
Robert Craven
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