All Commentary
Friday, January 13, 2012

Fed Officials Didn’t See the Crisis Coming


“[Federal Reserve] officials, meeting every six weeks to discuss the health of the nation’s economy, gave little credence to the possibility that the faltering housing market would weigh on the broader economy, according to transcripts that the Fed released Thursday.” (New York Times)

The pretence of knowledge.

FEE Timely Classic
“Free Banking Beats Central Banking” by Fred E. Foldvary