Academics Spar With Populists Over Fed Audits
(Wall Street Journal) -- By Jon Hilsenrath --
A group of academic economists — including several Nobel Prize winners, leaders of respected economic journals and former Fed officials — is dialing up its call for lawmakers to drop plans to subject the Federal Reserve to more scrutiny by the Government Accountability Office, an investigative arm of Congress.
In a letter to leaders on the Senate Banking Committee and House Financial Services Committee, the economists say a bill proposed by Rep. Ron Paul (R., Tex.) and Alan Grayson (D., Fla.) to let the GAO review Fed monetary policy would do “serious harm to the economy.” They warn increased congressional oversight would harm the Fed’s independence and ability to fight inflation.
Mr. Paul has built a popular movement in part on his attacks against the Fed and won large support in the House for his bill. Ben Bernanke, Fed chairman, has a growing body of academics on his side. Some 270 economists have signed the letter, including Edward Prescott, Myron Scholes, Daniel McFadden, Fynn Kydland, Roger Myerson and Robert Engel, all Nobel winners.
The academics sent a similar letter to Congress in November, but are trying to dial up their campaign now that Mr. Paul’s bill has been approved by the House Financial Services Committee.
Supporters of Mr. Paul argue that the organizers of the letter-writing campaign are too close to the Fed to be objective — some are former Fed officials or have served as advisers to the Fed. Mr. Bernanke, a former academic, is also friends with many of them...CONT'D...LINK
FOR LIBERTARIAN NATIONALISM: ANTI-CORPORATIST, ANTI-COMMUNIST, ANTI-GLOBALIST...PRO-SOVEREIGNTY, PRO-POPULIST, PRO-FREE ENTERPRISE
My Other Blog & Comments
News and Information Feed
-
-
Open Thread48 minutes ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Patrick Lawrence: This Isn’t Fascism3 hours ago
-
-
-
-
-
-
-
The News Never Stops3 hours ago
-
-
Gates of Vienna News Feed 5/1/20244 hours ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Go back to Europe8 hours ago
-
-
The Alzheimer’s industry8 hours ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
It's happening.11 hours ago
-
-
-
-
Flood the Gates: Escalate12 hours ago
-
-
Wednesday, May 1, 202413 hours ago
-
-
MTG Seeks to Oust Uni-Party House Speaker15 hours ago
-
-
-
-
-
The Politics Of Failure18 hours ago
-
-
-
News Briefs – 05/01/202420 hours ago
-
Fighting Monsters23 hours ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
TikTok Hypocrisy2 days ago
-
-
-
Important Announcement3 days ago
-
-
-
-
Month of the Leader, part 34 days ago
-
-
-
-
-
-
-
-
-
-
-
-
Tulsi Gabbard Left The Woke War Party3 weeks ago
-
-
-
Help Whatfinger Grow…5 weeks ago
-
-
-
Navigating Taxation Policy1 month ago
-
-
-
-
-
-
-
So sorry about tomorrow3 months ago
-
-
-
TFeed Index 20233 months ago
-
-
-
-
Headline 3: Of Christmas And Paganism5 months ago
-
Imagine Being This Desperate5 months ago
-
-
Hardcore7 months ago
-
Media Say ... Gloom And Doom In China7 months ago
-
-
U.S. Openly Militarizes Space8 months ago
-
-
-
-
-
-
Conversations With Cabbies10 months ago
-
-
-
-
-
-
-
-
-
-
-
-
-
Tips1 year ago
-
-
-
-
-
-
Man, Bear, Pig Event Coming1 year ago
-
-
-
-
-
-
-
-
-
What a Wonderful Stocking Stuffer!2 years ago
-
test2 years ago
-
-
-
-
-
#273 – Marc Randolph2 years ago
-
My Farewell Announcement2 years ago
-
My Farewell Announcement2 years ago
-
-
-
-
-
-
-
-
-
-
Farewell, for now3 years ago
-
-
Audio Book Lost Colony of Hatteras3 years ago
-
-
Cancel Yourself3 years ago
-
-
Hello world!3 years ago
-
-
-
-
-
-
The Non-Jewish Origins of Krav Maga3 years ago
-
-
-
Why the Marines are dumping their tanks4 years ago
-
-
-
-
-
-
-
Voxiversity Live Stream6 years ago
-
-
Home: A Recap6 years ago
-
Big Brother’s War on Cash6 years ago
-
-
-
-
By: Osamas Pajamas9 years ago
-
Join Our Mailing List12 years ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Thursday, December 10, 2009
Increasingly desperate banksters bring in "academic" lackeys in yet another attempt to derail Fed audits
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment