Keynesian Counter-Attack

July 16th, 2009 5:44 pm  |  by Chad Fent  |  Published in Big Government, Commentary, Federal Reserve, Liberty  |  2 Responses

Holy cow, here we go. Take a look at this article posted on Yahoo! Finance:

Fed Independence

The Keynesians are attempting to lodge a full force counter-attack. Why doesn’t Anil Kashyap (one of the petition initiators for Fed Independence) look at the reasons the Federal Reserve was instituted, and compare it to their track record?

In a lame attempt to keep you from questioning their authority, they list the credentialed signators of said petition. I’m so angry about this, I had better just stop writing.

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  1. MarkT says:

    July 17th, 2009 at 4:00 pm (#)

    From Anil Kashyap’s bio:

    Prior to joining the Chicago Booth faculty in 1991, Kashyap spent three years as an economist for the Board of Governors for the Federal Reserve System. He currently works as a consultant for the Federal Reserve Bank of Chicago, and serves as a member of the Economic Advisory Panel of the Federal Reserve Bank of New York, and as a Research Associate for the National Bureau of Economic Research (NBER).

  2. MarkT says:

    July 17th, 2009 at 4:03 pm (#)

    I expect that some googling would similarly link the other 174 “prominent economists” to the FED. Gee, after all, the FED snaps up Economics graduates like the NSA hires mathematicians…

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