Monday, October 3, 2022
Home TECH What Jerome Powell can learn from Arthur Burns

What Jerome Powell can learn from Arthur Burns

by Thomas J Sargent other William L Silver

History, Chairman of the Federal Reserve Jerome Powell he said last week in Jackson Hole, Wyoming, warning against “premature easing” of Fed policy. Have you learned anything from Arthur Burns? Burns, who led the Fed from 1970 to 1978, tightened credit to fight inflation in the early 1970s but then defaulted. That contributed to the Great Inflation.

Burns, a respected economist who had been president of the National Bureau of Economic Research, had impeccable anti-inflation credentials when the president Richard Nixon He named. hey taught Milton Friedman when Friedman was a student at Rutgers University and trained the future Fed chairman Alan Greenspan, who did graduate work at Columbia. But Burns eventually admitted that he failed to control inflationary pressures when he had the opportunity to do so.

RELATED ARTICLES

19 Android Settings You Might Not Know About

if you are a typical smartphone user, you average almost five hours a day on your phone now. But beyond video and social...

‘Quordle’ Today: See Every ‘Quordle’ Answer & Suggestion For October 3rd

Welcome back to the work week. I'm sorry, but today's. Quordles it won't help you get back into a routine easily, because it's...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Progressive See extremism only elsewhere

The 9/11 elections in Sweden shocked intellectuals across the West. The Sweden Democrats, a nationalist-populist party founded in 1988 with neo-Nazi loyalties but...

Dr. Oz Closes in on Fetterman in Pennsylvania Senate Race: POLL

Republican candidate Dr. Mehmet Oz is narrowing the Democratic lieutenant's lead in the polls. government John Fetterman in the Pennsylvania Senate race, according...

In a new book, Nikki Haley criticizes the ‘hypocrisy’ of modern feminism

"Women fought for so long to have the freedom to make their own decisions," but now, every thought in their lives is "boxed in...