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Don’t Blame Ben

Charlie Gasparino defends Ben Bernanke:

what’s happening to Bernanke now isn’t accountability, it’s a feeding frenzy. And for the good of the country, it should stop.

Classical liberal and conservative critics of Bernanke would do well to read this speech, in which Bernanke pays tribute to Milton Friedman:

Friedman’s monetary framework has been so influential that, in its broad outlines at least, it has nearly become identical with modern monetary theory and practice.

posted on 17 November 2010 by skirchner in Economics, Financial Markets, Monetary Policy

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In his later years, Friedman was far more sceptical of the role of the Fed.

“My first preference would be to abolish the Federal Reserve.”

http://www.youtube.com/watch?v=JL3FT0O4kYg

Posted by .(JavaScript must be enabled to view this email address)  on  11/18  at  11:31 PM


Friedman has a good point on “it should not depend on whether he is good or not”. Particularly when it is not clear Ben B has a controlling majority on the Board itself.

Posted by Lorenzo  on  11/20  at  01:44 PM



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