Beyond another lawyer of bureaucracy, what does he bring?
Paul Volcker's cred rides on having nipped inflation in the bud as part of dealing with, and at the same time exacerbating, the 1980-82 recession.
In fact, he himself admits he could have handled it better. Between that fact, and the other fact, that the parameters and causes of our current situation aren't closely parallel to 1980, what exactly does Volcker bring to the table?
Or his cohort, Austen Goolsbee?
As for the bureaucracy levels, why do we need President's Economic Recovery Advisory Board on top of the National Economic Council, Council of Economic Advisors AND OMB?
Another sign of both neoliberalism AND Beltway-itis is the belief that there's no problem that can't be addressed by naming a new board or commission.
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