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Why You Should Not Be Enthusiastic About Janet Yellen as Fed Chairman

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Headlined to H2 9/18/13
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At www.nakedcapitalism.com

While it's a relief to have Larry Summers out of the running for the Fed chairmanship, it's also important not to labor under any delusions about Janet Yellen, the nominee presumptive. Larry Summers set a very low bar to beat. The modern Fed has become a citadel for orthodox-thinking, meaning entirely mainstream economists. And even though the global financial crisis revealed mainstream economics to be intellectually bankrupt and worse, affirmatively destructive, it has lost no hold over policy. It's hard to imagine that a keen empiricist and original thinker like Marriner Eccles, the Fed chairman from 1934 to 1948, would have a snowball's chance in hell of being appointed to any important position at the present-day Fed. Obama embraces and will continue to perpetuate the conservatism of our central bank. He reappointed Bernanke, who has continued the policies of the Greenspan Fed

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Yellen is a minor league neoliberal compared to Su... by Rob Kall on Wednesday, Sep 18, 2013 at 6:58:30 AM
Sorry Rob no such luck!  Raw StorySen. Warren... by thepiffler on Wednesday, Sep 18, 2013 at 10:24:35 AM
The Fed of course is of, by, and for, the 1%.The p... by Lance Ciepiela on Thursday, Sep 19, 2013 at 12:51:10 AM
Is there anyone, anywhere that has the back of the... by Susan Lee Schwartz on Wednesday, Sep 18, 2013 at 8:51:26 AM
I agree. Yellen has been a yes woman in the establ... by Chris Robinett on Wednesday, Sep 18, 2013 at 9:25:10 AM
Does the Feds charter run out this year?  Hav... by Michael Dewey on Wednesday, Sep 18, 2013 at 11:21:59 AM
It's my understanding from reading Ellen Brown's b... by takebackourcountry on Wednesday, Sep 18, 2013 at 3:59:17 PM
Yes, US Notes are talked about by Scott Baker here... by Michael Dewey on Wednesday, Sep 18, 2013 at 4:35:27 PM
In 1962, JFK decided to do the same, to print US n... by Nancy Ahrens on Wednesday, Sep 18, 2013 at 4:41:49 PM
FED assets were turned over to the U.S. Treasury b... by Nancy Ahrens on Wednesday, Sep 18, 2013 at 4:53:04 PM
Typically the first name thrown out is a total wre... by Dennis Kaiser on Wednesday, Sep 18, 2013 at 3:55:08 PM
Anyone who thinks that anyone who is nominated to ... by Samson on Wednesday, Sep 18, 2013 at 5:54:31 PM
"... Many who have been vociferous in critic... by Lance Brofman on Sunday, Sep 22, 2013 at 4:45:31 PM