The hardest job.

Being a Federal Reserve Governor can’t be very much fun.  In the past three years there have been several “firsts”
and a number of admissions of ignorance:
•    Twelve Discount Rate cuts in a row with no improvement in the economy.
•    Fourteen consecutive unchanged risk statements (weakness) from December 2001 to January 2002.
•    Since 2002, the Fed has tried to… Continue reading →