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Brad DeLong's Grasping Reality 2019-07-17 13:34:10

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Desmond Lachlan: Trump's bizarre Federal Reserve nomination | TheHill: "Among President Trump’s more bizarre nominations for office has to be his nomination of Judy Shelton to fill one of the Federal Reserve Board governor vacancies.... Shelton manages to hold two contradictory views of monetary policy at the same time... strident advocacy of the return to the gold standard is totally inconsistent with the Trump administration’s economic policy approach.... Normally a person would be in favor of either an easy monetary policy to stimulate the economy or a hard monetary policy to exert discipline on the government. Either way, one would not expect her to hold both views at the same time. Yet Ms. Shelton does exactly that...

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Desmond Lachlan: Trump's bizarre Federal Reserve nomination | TheHill: "Among President Trump’s more bizarre nominations for office has to be his nomination of Judy Shelton to fill one of the Federal Reserve Board governor vacancies.... Shelton manages to hold two contradictory views of monetary policy at the same time... strident advocacy of the return to the gold standard is totally inconsistent with the Trump administration’s economic policy approach.... Normally a person would be in favor of either an easy monetary policy to stimulate the economy or a hard monetary policy to exert discipline on the government. Either way, one would not expect her to hold both views at the same time. Yet Ms. Shelton does exactly that...

Bradford DeLong
J. Bradford DeLong is Professor of Economics at the University of California at Berkeley and a research associate at the National Bureau of Economic Research. He was Deputy Assistant US Treasury Secretary during the Clinton Administration, where he was heavily involved in budget and trade negotiations. His role in designing the bailout of Mexico during the 1994 peso crisis placed him at the forefront of Latin America’s transformation into a region of open economies, and cemented his stature as a leading voice in economic-policy debates.

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