I have isolated this clip from the Hearings on Janet Yellen’s nomination to head the Federal Reserve bank.
Many times our fiscal policy and monetary policy has been working in cross purposes.
I have finally found someone from the Federal Reserve to plainly state what I have been claiming on this blog for a long time.
If this were not a job interview for Janet Yellin she could say it less diplomatically. The Fed would not had had to do some of the extraordinary things it has done, and you are so worried about, if the Fed had not needed to undo the damage that Congress has done with Congress’s economic policies.