Re: Jeremy Stein to Resign From Fed Board to Return to Harvard
Now, no one would ever call Harvard professor Jeremy Stein an Austrian school economist, so it is illuminating how even his modest questioning of Quantitative Easy is not allowed in the hallowed halls of the almighty Federal Reserve. Consider Stein’s inflammatory statement that “Monetary policy should be less accommodative…”. Not much of a criticism, right? Maybe the Fed should mull that thought over for a moment or two, right? Not on your life, you free market radical! Can’t you see the smoke coming out of our shrine to John Maynard Keynes? Our god is angry! Throw out the heretic before he wreaks vengeance upon us!