Don't Blame Bush, Blame Bernanke

Don't blame Bush, blame the Fed, or so says Dr Robert Hetzel, a senior economist at the Federal Reserve Bank of Richmond, in his book, The Great Recession:  Market Failure or Policy Failure?.  This from a review at the AEI on-line publication AEI Ideas.  It is macroeconomics, so not many will be reading the book, except maybe Blogger Greg Page.

You can guess the flow of Dr Hetzel's views—he received his PhD from University of Chicago, in 1975.  Anyway, here is his bio from the Fed website:

Bob Hetzel is a senior economist and research advisor in the Research Department and has been with the Richmond Fed since 1975.  His research has been in academic publications such as the Cato Journal, and the Journal of Money, Credit and Banking.  Most recently, Hetzel published a book that chronicles the history of the Federal Reserve's monetary policy.

These are real people, with real ideas, out there in the Fed.  Some may be right and some may be wrong, but they are working the problem.  I wish them luck, since my economic future depends upon them.

Regards  —  Cliff