janet yellen

What a difference a week makes. A week ago, a carefully orchestrated series of leaks signaled that President Obama was on the verge of naming Larry Summers to succeed Ben Bernanke as chair of the Federal Reserve. Those leaks came from senior administration officials, including Obama himself. Now, a...
Larry Summers is running hard to succeed Ben Bernanke as chairman of the Federal Reserve. This is a terrible idea, on several grounds (which I'll discuss in a moment.) Even so, I'd place the odds of President Obama giving Summers the job at 50-50 or better, unless progressive Democrats get...
If you want to appreciate just how conservative the fiscal conventional wisdom is, consider that hotbed of Bolshevism, the Federal Reserve. Yes, the central bank that progressives love to hate is today the most expansionist outfit in town. Although they are arguing about the details, both President...
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