The Fed: They Really Didn't See It Coming
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January 20, 2013 - 2:30am
Federal Reserve Governors Comments From 2007
by Larry Doyle, Sense on Cents
If anybody thinks that the governors of the Federal Reserve have any degree of foresight on the economy, the following transcripts from 2007 are a MUST read. One governor, (yes one and it was not Ben Bernanke), displayed some prescient foresight and expressed real concern on what likely lay ahead on our economic landscape. Who was it? The one I recently highlighted as calling for the breakup of our TBTF megabanks. That would be Dallas Fed governor Richard Fisher.
After reading this release provided by the WSJ, you may doubt the Fed’s collective capability in managing the economy.
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