There has been an evolution in his thinking. . . . He is much more aware of the subtleties of making this work in the American political process. He is not an egghead academic who doesn't get it. He knows how to learn and operate in the real world.
"Frederic Stanley "Rick" Mishkin" is an United States/American economist and professor at the Columbia Business School. He was a member of the Board of Governors of the Federal Reserve System from 2006 to 2008.
More Frederic Mishkin on Wikipedia.What is not appropriate is for the central bank to talk about the details of how the fiscal balance should be achieved. That's a political issue. It's something that the Federal Reserve should not be involved in talking about.
The common law system in which the law is continually reinterpreted by judges ends up protecting property rights far more than others and makes it easier to enforce restrictive covenants.
It's irrelevant what somebody's politics are. It just matters whether they would be a good central banker.
This is not somebody who is full of himself or has to show he's the smartest guy in the room.
Ben has been very clear that controlling inflation is the primary long-term goal of the Fed. And he has the credibility to do that.
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