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There's more push-back from the doves as the Boston Fed's Eric Rosengren (FOMC voter) tells a...
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Friday, February 22, 12:03 PM ETThere's more push-back from the doves as the Boston Fed's Eric Rosengren (FOMC voter) tells a crowd he disagrees with an academic paper making the rounds arguing excessive government borrowing and the Fed's asset purchases could lead to trouble down the road. What could possibly go wrong?
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This news story has 3 comments:
"Would I lie?"
If I were Rosengren's professor on that paper - he'd get a C -.
If this is the quality of the intellect running the Fed, I am even more worried.
This is choice:
"Nonetheless, such estimation provides a baseline for considering the economic benefits of additional purchases. These estimates are subject to a considerable degree of uncertainty, and the impact could easily be higher or lower than that implied by our model. However, based on our statistical work using historical data, we believe these are reasonable estimates of the benefits."