NP - The Fed's Priorities

[David Morris]

On Mon, Aug 6, 2012 at 5:19 AM, alice wellintown
<alicewellintown at gmail.com> wrote:
>
> but it [the Fed] has done, at this point, all it can, without taking unacceptable risks to the long term

Simply not true.  When the economy is fine, the Fed (rightly so) does
nothing.  When the economy is anemic (like now), the Fed does nothing.
 There is obviously something wrong with these equations.

The Fed, out of fear of inflation when the is no sign of inflation
anywhere, acts as if fighting inflation is its biggest mission, and in
the process completely disregards half of its mission: full
employment.

David Morris