NP - The Fed's Priorities

[Charles Albert]

The Fed has been at "the zero bound" for some time now......it's out of
bullets....at this point, we must look to fiscal remedies......hear me now,
believe me later - should Mitt win in November, you will see a rapid
conversion to Keynesianism in the Yahoo ranks....

love,
cfa

On Mon, Aug 6, 2012 at 9:16 AM, David Morris <fqmorris at gmail.com> wrote:

> 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
>
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