Nov

10

Fedwatching, from George Zachar

November 10, 2006 |

Fed chair Bernanke’s speech, “Monetary Aggregates and Monetary Policy at the Federal Reserve: A Historical Perspective” is simply a litany of failures by the central bank to understand its own core product: money.

Kudos to Bernanke for his clear-eyed ability to acknowledge failure… but would you take your car to a mechanic who said that despite decades of study, he still didn’t understand engines?


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