One suspects Robert Murphy is inclined to employ a Jon Sanders-style facepalm as he reads in Bloomberg Businessweek about one of the new duties assigned to Janet Yellen, vice chair of the Federal Reserve board:
[Fed chair Ben Bernanke] has assigned her to head a communications subcommittee to figure out how to give the Fed a more unified public voice despite discord among its members. He also has put her in charge of a new group of economists and other Fed officials who will try to spot signs of a financial crisis before it occurs. “I’ve developed a deep and abiding respect for her judgment and skill as a policy maker,” says the Fed chief.
I reference Murphy because of his remarks during a March 2010 debate at Campbell Law School. Murphy argued against crediting the Fed with helping to avert a second Great Depression during the most recent financial crisis.
Murphy also gave Carolina Journal Radio listeners some ideas about the best way for government to address our economic woes.
