Tuesday, April 29, 2008

Listen to the Wiser Tanks, Bernanke

We're now getting inflation-hawk, strong-dollar talk from the front-line think tanks. It's time for the Federal Reserve to wake up.

[Thanks to the Minneapolisfed.org, strangely enough, for the image. They've missed the most vital strong points and weaknesses of a strong dollar.]

Steve Hanke at Cato talks about the Fed's poor record, and John Chapman at the American Enterprise Institute gives his opinion in the Wall Street Journal about the Phillips Curve's long-term invalidity.

But is the Fed listening?

No, because they seem to be going along with the idea that a strong dollar is not in our interest (in spite of what government officials say in public).

Keynes is back, at least at the Fed.

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