Monday, November 14, 2011
Cain: "Fed focused on price stability from 1914 to 2000;" Fact: 1914-1977
(GoinsReport.com) -- In mid-October, former Federal Reserve chairman Herman Cain mistakenly said that the Federal Reserve focused on price stability alone for a little more than three quarters of the 20th century, although by law the dual mandate law didn't come into effect until the late 1970s.
Update: The Fed didn't actually do a good job of focusing on price stability as the high inflation in the 70s attest.
Subscribe to:
Post Comments (Atom)
WCF Chapter One "Of Holy Scripture" Sunday School (Sept.-Oct. 2021)
Our text for Sunday School (also "The Confession of Faith and Catechisms") Biblical Theology Bites What is "Biblical Theology...

-
Snapshot of the August 2, 2016 Drudge Report President Obama is no revolutionary. Rather he is of the status quo. Today he played t...
-
"With government in the U.S. at all levels consuming 40 percent of gross domestic product, and taxes 30 percent, taxes will have to ris...
No comments:
Post a Comment