Trump Fed chair’s inflation strategy: leave it to the market | Eduardo Porter
Kevin Warsh would rather stay out of the fray – and thus devalue the Fed’s credibility as an economic steward It must feel strange to argue that government action is inevitably counter-productive – illegitimate even – when the government is you. For the last half century, the Republican party has been comfortable with the contradiction. It’s framed in that clever quote from Ronald Reagan’s 1981 inaugural speech: “Government is not the solution to our problem; government is the problem.” Solutions, in this view, are delivered by free, unencumbered markets. Continue reading…
Kevin Warsh would rather stay out of the fray – and thus devalue the Fed’s credibility as an economic steward It must feel strange to argue that government action is inevitably counter-productive – illegitimate even – when the government is you. For the last half century, the Republican party has been comfortable with the contradiction. It’s framed in that clever quote from Ronald Reagan’s 1981 inaugural speech: “Government is not the solution to our problem; government is the problem.” Solutions, in this view, are delivered by free, unencumbered markets. Continue reading…
