Fortune suggest the Fed chief’s aggressive rate-cutting in the face of what could be a fairly mild recession could backfire. They compare his actions to Fed chiefs Burns and Miller in the mid-70s, warning we may face a real recession, or similar problems, and need a new Paul Volcker, down the road.
That is a legitimate worry, in my book, especially if Bernanke does not prod Congress/Bush to address some structural issues, through regulation or whatever is needed.
A skeptical leftist's, or post-capitalist's, or eco-socialist's blog, including skepticism about leftism (and related things under other labels), but even more about other issues of politics. Free of duopoly and minor party ties. Also, a skeptical look at Gnu Atheism, religion, social sciences, more.
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As seen at Washington Babylon and other fine establishments
January 21, 2008
Bernanke’s “cure” worse than the disease?
Labels:
Bernanke (Ben),
Federal Reserve
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