“We don’t share the common fantasy of central bankers: that they can know better than the market what interest rate, employment rate and inflation rate the country should have. We mention the three because the Fed sets short-term interest rates through its conventional monetary policy. And it tries to keep a lid on long-term Treasury yields through its ‘unconventional’ QE programs. And it does so, it claims, to adjust two other important rates: employment and inflation. Every candidate for the top post at the Fed – except us – believes it is his right and duty to do these things. Which means none should be allowed anywhere near the Fed.”
http://www.bonnerandpartners.com/a-personal-appeal-to-barack-obama/
Related posts:
This Could Shake Muni Bonds to the Core
The NSA-DEA police state tango
Washington frets over Saudi ties
Bernanke to Oprah: "I've Been Doping for Years"
Germany’s Hitler-Era Homeschool Laws Still In (Brute) Force
Ron Paul: Iraq, The 'Liberation' Neocons Would Rather Forget
Lew Rockwell: The Only Choice on November 6th
Just Say the Magic Word
The Corrupting Influence of Political Intelligence
Jacob Hornberger: The Banality of Evil in the War on Drugs
Scott Horton Radio: 7/27/12 Ryan Alford
Michael Hastings: my friend and his enemies
Robert Mueller's forgotten surveillance crime spree
'Intelligence laundering'
The Pantheon