November 12, 2013

New Federal Reserve Chairman's Priorities Questioned


[From article]
There is no reason to doubt Yellen’s intellectual integrity; there is reason to wonder where she thinks the autonomous Fed now fits in the government. The Fed seems to be evolving into a central economic planner with a roving commission to right social wrongs such as unemployment. About this Yellen talks with a humane passion that speaks well of her but is more suited to a political official.
There is considerable congruence between Yellen’s economic theories and the policy preferences of the Democratic liberals who secured her nomination. They probably favor quantitative easing forever and consider themselves her constituents. Is she prepared to disappoint them?

http://www.jewishworldreview.com/cols/will110913.php3#.Un9b2N00i6Y

Jewish World Review
Can Yellen stand alone?
By George Will
November 9, 2013

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