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Fed Meeting Underscores Tough Task Ahead for Warsh
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Jerome H. Powell on Wednesday announced he would stay on as a governor at
the central bank as internal divisions sharpen about the policy path
forward.
21 hours ago
The effects of the Keynesian-style deficit spending that the administration had been engaged in under the terms of the early New Deal, the President was advised to cut the budget, reduce deficit spending and tighten the money supply as a means to stave off inflation. Heeding their word (and no economist himself), FDR did just that.
ReplyDeleteThe results were an unmitigated disaster.