Get a Clue Beantown Fed
August 17th, 2010Fed officials stated yesterday in the Wall Street Journal, “Academic research available in 2006 was basically inconclusive and could not convincingly support or refute any hypothesis about the future path of asset prices.”
As you know there were many economists like , from Connecticut, who predicted much of what happened and gave many reasons why…most of which blaming the central planning of the Federal Reserve. He also states that the recession he was predicting should be “embraced” instead of fought against in order to heal the economy.
It is sad to hear Boston Federal Reserve officials fail to acknowledge any of this information and claim that there is little evidence to make a good decision on monetary policy. The evidence is clearly stated by many Austrian economists and even recognized by the !
Not that I would expect the Boston Fed to be supportive of Austrian economics based on my own personal experience with its officials, as well as its redundant policies…but to blatantly deny the fact that evidence is actually available to make educated decisions is ignorant and disappointing.
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