I must congratulate Heritage Action on their principled move to "score" votes of US Senators on the confirmation of Janet Yellen to become Chair of the Board of Governors of the US Federal Reserve System. They are doing this in order to register their protest against the "politicization" of the Fed and to fight against it. Surely, there is no better way to depoliticize the Fed than to threaten any Senator (particularly a GOP one) with facing a well-funded teabag opponent in a primary if they dare to vote for the appointment of Yellen. I must applaud Heritage Action on its sagacity and wisdom in this move (hack, cough)...
Barkley Rosser
1 comment:
Of course, the real trouble isnt politicizing the Fed but 'dspolitizing it' which is a fiction but a very harmful one at that.
During the time the Fed was less 'independent' it performed much better.
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