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Posted by Wallace on February 9, 2010, 12:47 pm
> > The Fed doesn't have enough power to straighten out the US economy.
>
> Before reading the article I was going to rejoin to the above,
> "Especially now that interest rates have been set so low there is no
> room for further changes to help improve the current situation." IOW,
> the Fed blew their wad. Then I thought I better and read the article
> Skip cited so as to see if anything intelligent was in it. Leaping out
> at me is the line: "Greenspan, in his final four years as Fed
> chairman, kept rates too low and regulation too light, goes the
> argument."
>
> Yet while Greenspan was the Fed Chair, only a few expressed some
> concern about these practices. ISTM no one really sounded the alarms.
> I think almost everyone bought in. Hence to suggest that Greenspan or
> Bernanke should have gone against the tide does not seem entirely
> fair.
sure it does. Greenspan was wrong, along with a lot of other people. But
not all. I was among those who kept their powder dry during this period.
Is the Fed supposed to act based upon opinion polls? Or are they supposed
to be the experts and do the right thing, lest the country tank?
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