Posts Tagged ‘Rosengren’

Notes From Underground: If Everybody Is Talking Who Is Listening

May 20, 2014

Presented with comment:

 

The First Economist

Yesterday, the airwaves were filled with global financial speakers singing from the hymnal of disinflation. His eminence, MR. 250 GRAND, was wowing the private speakers circuit with his opinion on stock market valuations and economic growth. Mr. Bernanke, please do not follow in the footsteps of Sir Alan Greenspan, who in his post-chairman life proved that he had very little understanding of the economy he was trying control. Only in the world of access journalism do the anointed powers pretend to be all-knowing oracles. As Bernanke hits the lecture circuit and speaks freely without the Fed backdrop it puts the current Fed Chair Janet Yellen into a very difficult position.T he media is in search of a story and a hero to worship, which propagates the idea of Fed decisions being based on rocket science with Fed policy a certainty. Again, theory and practice (praxis) do not produce hard facts in the world economics. In further support of the Fed’s “uncertainty principle,” yesterday the Wall Street Journal ran a Jon Hilsenrath interview with Boston Fed President Eric Rosengren. The interview is based on the operational techniques the Fed plans to utilize to “Raise Short-Term Interest Rates.”

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Notes From Underground: Say Goodbye to Austan Goolsbee and Cue “Another One Bites the Dust”

June 6, 2011

Austan Goolsbee, the chair of the Council of Economic Advisers, announced that he is heading back to the University of Chicago to spend more time with his students. Professor Goolsbee believes that the Midway is a much safer place to be than the chaotic environs of Washington, D.C. It is better to be beloved for challenging the minds of the next generation of leaders than to lead the challenge against the economic buffoons that are generating nothing but red ink and angst. More importantly, this is the second head of the Council of Economic Advisors–and the third from Obama’s economic team (Larry Summers)–that has headed for either the lecture circuit or the safety of the classroom.

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