The Blog of Macroeconomic Advisers LLC
The FOMC’s move to resume large-scale asset purchases (LSAPs) was a controversial one, inside as well as outside the Committee.
What is disturbing about recent developments is the politicization of monetary policy. Notable Republican politicians have teamed up with a handful of mostly Republican economists to criticize the Fed’s actions in a politically-charged manner.
Those who know me know that I hate to be embroiled in a senseless partisan debate.
We were particularly troubled by the open letter to the Chairman, signed by a handful of mostly Republican-leaning economists.
The politicization of the Fed can have serious consequences.
For our part, we will continue to study monetary policy issues in a dispassionate way, hopefully contributing to the serious work that needs to be done.
The forecasts provided herein are based upon sources believed by Macroeconomic Advisers, LLC, to be reliable and are developed from models that are generally accepted as methods for producing economic forecasts. Macroeconomic Advisers, LLC, cannot guarantee the accuracy or completeness of the information upon which this Report and such forecasts are based. This Report does not purport to disclose any risks or benefits of entering into particular transactions and should not be construed as advice with regard to any specific investment or instance. The opinions and judgments expressed within this Report made as of this date are subject to change without notice.
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