FED’s Donald Kohn: We Know Not What We Do

Here’s yet another major central banker (he was the FED’s vice-chairman) very recently admitting that the central bankers are clueless in understanding economics and that their models and theories aren’t helping them understand diddly-squat:

“What is holding the economy back? Why is it that we’ve had such incredibly accommodative monetary policy for so long (but) we’ve had so little growth? I think it remains a puzzle.”

Share

10:58 am on September 5, 2012