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Political Discussion
Reply to "Jay Powell is a better fed chair than bernanke or yellen. "
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[quote=Anonymous][quote=Anonymous]It's easy to be great when you can put trillions into the economy and never worry about inflation. Bernanke, Yellen, and Powell are all OK, but like I said it's not hard to flood the economy with money. Greenspan opined on a lot of things that turned out to be wrong, and one of them was fundamental to the job: the idea that markets self-regulate. Volker was the real deal. He had to crush inflation during high unemployment. The rest of these guys are just praying they never run into that situation, ever. [/quote] Volcker had only one way to go which was to raise rates. He was not genius. He also worked very hard to overload the authority of the FRB leading to many of the problems in the run up to the financial crisis. He was a classic institutionalist with a rigid mind. [/quote]
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