I vote for Stanford Prof. John B. Taylor for the next Fed Chairman - like his rules-based Taylor Rule

Reader comment on: Fischer For the Fed?

Submitted by Mark Michael (United States), Aug 29, 2017 16:06

Janet Yellen needs to be replaced with someone who'll begin using the Taylor Rule for setting the Fed funds rate and begin selling off that huge stash of securities they currently hold. The country has been very fortunate that the various asset classes have not inflated more than they have, and that inflation remains low. Asset classes are indeed inflating: student loan debt, credit card debt, the housing market - including the subprime mortgage part. The dollar is quite low w.r.t. the euro. (It costs $1.19 to buy a euro these days. It was issued at around $1.05 in 1999. The fluctuation of the major currencies since Nixon closed the gold window for good in 1971 has been bad.)

Janet Yellen is a Keynesian interventionist leftist imo, and I sure hope the next Fed chairman does not continue her approach to managing monetary policy and the banking system. Today's WSJ has a nice editorial on the Fed - the top unsigned one.

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