It's not often I can claim that you'll be smarter if you invest the time to watch something I post, but that is definitely the case today. The following is an interview with Dallas Fed Chairman Richard Fisher from Aspen Ideas, and if you invest the 59 minutes you are definitely going to understand the thinking behind monetary policy much better. It's almost unbelievable how brutally candid he is. He goes so far as to say that the US economy is "the best looking horse in the glue factory" and that the Fed has the power to fix all the stupid things Congress has done over the past two decades, but then you'd have the Weimar Republic. He really lays it all out here, and I have to give it up to Maria for re-inventing her brand with this kind of content. Top notch:
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Wow this is useful info. I'm weak on technical understanding, so this really fills in the blanks. He takes for granted that gov't policy will remain static (tax rates etc), and if it doesn't change then he's most likely right.
Thank you very much for sharing this!
Questions in the end were all about fiscal policy LOL
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