Monetary policy had a rare moment in the spotlight this week with Ben Bernake’s press conference. Granted, it took the stage right after Obama revealed his birth certificate and right before two people from England got married, but when is monetary policy ever going to get the nation’s attention?
Before the conference, the New York Times ran an article by David Leonhardt criticizing the Fed for not doing more to lower unemployment. His position is based on false premises, and there is no attempt to support them. Read the rest of this entry →