Fed Up

by Don Boudreaux on August 23, 2009

in Current Affairs, Financial Markets, Frenetic Fiddling, Monetary Policy, Myths and Fallacies

Did the Federal Reserve Bank save the economy? “No!” says George Selgin in this interview with the Atlanta Journal-Constitution. Here’s the nutgraf:

Selgin believes the Fed, after helping fuel the housing bubble, has morphed from central banker into central planning agency with a corporate welfare department.

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{ 10 comments }

Anonymous August 23, 2009 at 10:24 pm

The AJC ran a fair article about Selgin? Why is the ground so cold?

joenorton August 23, 2009 at 11:08 pm

Selgin’s the man! I was just listening to some audio lectures of him talking about Praxeology yesturday.

Anonymous August 24, 2009 at 2:06 pm: Please correct the spelling of yesterday.

piefarmer August 23, 2009 at 11:52 pm

Hey Barack, here’s change we can all believe in. Abolish the Fed.

Anonymous August 24, 2009 at 12:15 am: Abolish? We can’t even get an audit.

Anonymous August 24, 2009 at 2:00 am

Doc–

This is my worst nightmare.

My advisors at Oregon State were Tom Bible and Dick Towey. Professor Towey worked at FDIC. He knew money and banking–and macro–side to side. It seems the only regulatory agency left that still believes in markets is FDIC.

Am I wrong?
.

Bret August 24, 2009 at 4:22 am

Specifically Selgin’s criticizing the Fed’s bailouts (as opposed to the monetary policy). That I agree with.

Anonymous August 24, 2009 at 6:23 am

It is my understanding that Selgin opposes monetary policy.

Bret August 24, 2009 at 2:03 pm: Yes, but that’s not what he focuses on in this particular article. I’m skeptical of his calls to neuter or entirely eliminate the Fed.

Anonymous August 24, 2009 at 9:37 pm