2 ms·
Huh? It's reckless to guide economic policy by economic theory? How else do you propose the Fed sets interest rates, a Ouija board?
by rgross 12y ago
Huh? It's reckless to guide economic policy by economic theory? How else do you propose the Fed sets interest rates, a Ouija board?
- mox1 12y agoI meant by a single economic theory / equation...
- rgross 12y agoYou needn't worry that Fed policy is too simplistic. Bernanke is a distinguished economist (as is Yellen) and this blog post doesn't even scratch the surface of the depth of his economic knowledge and background. That's not to say that the Fed is perfect, of course, but the people in charge have serious expertise; this isn't Ted Cruz heading up an environmental committee.