Keynesians, rejoice! If Ben Bernanke wasn’t loosey-goosy enough for you, wait until you see Janet Yellen in action next month:
While Yellen’s appointment marks continuity with the Bernanke era, and with the Fed’s policy of quantitative easing of which she was one of the chief architects, it also heralds a number of firsts. Yellen is the first woman to head the central bank, but even more important, she’s also its first openly reform-minded, Keynesian-oriented leader. A stellar academic economist and 36-year Fed veteran with a particular focus on the human impact of unemployment, Yellen has said on many occasions that the past five years of crisis, joblessness and slower growth “aren’t just statistics to me.”
What I take away from this is we’re about to enjoy the twin benefits Super Colon Blow-style easing, while getting lectured to about caring.
A part of me just died inside.