Thursday, January 28, 2010

That's The Best Man The Fed Has To Offer?

Alan Blinder says that Bernanke is the best man that the Fed has to offer. If that is true, then that would be a powerful indictment of the Fed itself considering Bernanke's failings.

Outright laughable is Blinder's argument that things are better than anyone could have predicted given that unemployment is about two percentage points higher than Obama's team of economists predicted in early 2009 it would be right now if the "stimulus" plan was implemented (which it was).