“Brainwashed Nation”

The ‘peddlers’ of fiscal stimulus who say monetary policy (the Fed) is powerless at the ZLB-LT, and the inflation “nutters” have both done a grave disservice. Binyamin Appelbaum reports: “Majority of Americans Doubt Benefits of Fed Stimulus”:

Only one in three Americans has confidence in the Federal Reserve’s ability to promote economic growth, while little more than a third think the Fed is spinning its wheels, according to a New York Times/CBS News poll.

The remaining respondents said they did not know enough to answer.

Brainwashed

Most Americans, it would appear, remain either unaware or unpersuaded.

Interestingly, Greenspan was dubbed “The Maestro” with the Fed being “The Soloist”. Bernanke, apparently, has downgraded the Fed to “third or fourth fiddle”!

HT Becky Hargrove

2 thoughts on ““Brainwashed Nation”

  1. Pingback: Majority of Americans Doubt Benefits of Fed Stimulus - The Corner The Corner

  2. If asked this question, my response would be no confidence in the Federal Reserve’s ability to promote economic growth; although I suspect for entirely different reasons than most of the people who actually took the poll answered likewise. Central bankers cannot spend every waking hour obsessed with any rise in inflation month over month, seeing the inflation boogeyman around every bend, behind every tree and under every bush, at the expense of all else and promote growth at the same time. It just can’t and won’t happen in an environment of discretionary policy that has no memory of failure.

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