The Fed can no longer be considered separated from politics. A Financial Times column on Yellen, now Bernanke’s presumptive successor, described her as “poised to take the tiller of the US economy.” Oh? The economy has a tiller? And with it the Fed chairman can steer the economy? Who knew? Well, to err is human. To assume that a few government officials can and should steer America’s vast, globally connected economy — hundreds of millions of people making trillions of decisions a day — is a kind of confidence peculiar to the progressive temperament. m.washingtonpost/opinions/george-will-the-fed-has-become-a-creature-of-politics/2013/09/27/69741ff4-2793-11e3-b75d-5b7f66349852_story.html?wprss=rss_george-will
Posted on: Wed, 09 Oct 2013 00:26:50 +0000
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