No Cheerin’ for Yellen

6614John Cochran writes in today’s Mises Daily: 

The recent nomination of Janet Yellen with her strong commitment to the Fed’s dual mandate to head the Federal Reserve system has revitalized the Keynesian more-inflation-as-cure-for-unemployment argument as promoted by Paul Krugman in 2012.[1] These economists, such as Princeton’s Alan Blinder, who Dale Steinreich has labeled “kind of the Paul Krugman of the late 1980s,” look at the continuing slow recovery, and see, not a policy that has been totally ineffective and harmful, but a policy which has been less effective than intended because of the bad behavior of bankers.

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