When Asked To Defend The Fed’s Policies, Committed Keynesians Obfuscate


Will Janet Yellen, nominated by President Obama to head the Fed, provide a reasoned defense of current Fed policies in her upcoming Senate confirmation hearings? It isn’t likely.

One of the hardest things to find today is a good reasoned defense of either today’s deficit spending or the Fed’s untapered money printing. These are Keynesian policies,  so it is reasonable to look to Keynesians to supply the justification.

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