Federal Reserve
The Federal Reserve it can be argued has done a great job of propping up the economy during the Great Recession with its easy money policies led by Quantitative Easing 1, 2 and 3. However, the growth in the stock market and the low interest rate on our ballooning debt is artificial as a result of the Fed's policies. Dialing back of their latest bond-buying program, is the finesse move confronting the Fed for the next five years. If the Fed moves too fast, it could cool the recovery. If it moves too slowly, it could fuel asset bubbles or excessive inflation. With the stock market booming since the election of Donald Trump, these fears are heightened.

Judy Shelton, a Goldbug Who Bends to Fit Trump

7/14/19
from The Wall Street Journal,
7/12/19:

The Fed benefits from alternative thinking, but Ms. Shelton’s has flaws

Ever since the world left the gold standard, a die-hard band of goldbugs has demanded the U.S. return. President Trump just said he intends to nominate one of them, Judy Shelton, to be a Federal Reserve governor. Mainstream economists consider the gold standard, which pegs a currency to a fixed amount of gold, impractical—and dangerous. That isn’t a strike against Ms. Shelton’s candidacy. Mainstream economists have no monopoly on the truth, and alternative viewpoints should improve central bank decisions. Alan Greenspan was once a goldbug, and he served the Fed with distinction.

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