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Is The Fed Too Libertarian?

 

Henry Kaufman, in a Financial Times Op Ed http://www.ft.com/cms/..., calls for a "a fundamental overhaul of the Fed."   His critique describes a series of blind spots over the past several decades that he attributes to "commitment to laisser faire economics", "failure to recognise the problems that huge financial conglomerates would pose for financial stability" and "the belief that markets know best".

Whether you agree with Kaufman's arguments or not, the article is a good read.