{"id":21865,"date":"2016-10-01T15:52:41","date_gmt":"2016-10-01T20:52:41","guid":{"rendered":"http:\/\/olduvai.ca\/?p=21865"},"modified":"2016-10-01T15:53:44","modified_gmt":"2016-10-01T20:53:44","slug":"stanley-fischers-novel-idea-wed-be-better-off-with-a-price-for-using-money","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=21865","title":{"rendered":"Stanley Fischer\u2019s Novel Idea: \u201cWe\u2019d Be Better Off With A Price For Using Money\u201d"},"content":{"rendered":"<header>\n<h3 class=\"entry-title\"><a href=\"http:\/\/davidstockmanscontracorner.com\/stanley-fischers-novel-idea-wed-be-better-off-with-a-price-for-using-money-2\/\">Stanley Fischer\u2019s Novel Idea: \u201cWe\u2019d Be Better Off With A Price For Using Money\u201d<\/a><\/h3>\n<\/header>\n<div class=\"entry-content\">\n<div class=\"pf-content\">\n<p>The end\u00a0game of central bank lunacy is\u00a0surely near. Even the Fed heads appear to be mumbling bits and pieces of truth in public.<\/p>\n<p>Former Philly Fed President Charles Plosser, for example, told\u00a0Bloomberg TV this morning\u00a0that<strong>\u00a0central bankers \u201cwring their hands all the time,\u201d<\/strong>\u00a0are very \u201cconcerned about credibility,\u201d and are<strong>\u00a0\u201cpretty good at conjuring up reasons not to act.\u201d<\/strong><\/p>\n<p>Having screwed up his mutinous\u00a0courage, he then let loose with words that haven\u2019t been heard from a central banker in decades, if ever:<\/p>\n<blockquote><p><strong>The Fed \u201cshouldn\u2019t be afraid a recession might come,\u201d\u00a0he exclaimed,\u00a0\u201cthere\u2019s a real problem here\u201d.\u00a0<\/strong><\/p><\/blockquote>\n<p>Then again, Plosser recently\u00a0retired and perhaps it wasn\u2019t all that voluntary. By contrast, Stanley Fischer is in line to takeover the\u00a0joint, and perhaps soon.<\/p>\n<p>That\u2019s because Janet\u00a0Yellen is surely finished whether the Donald wins or loses. Her dithering and double-talk have become a laughingstock even in the Wall Street casino.<\/p>\n<p>So you might have thought the good professor from MIT\u2014-by way of the IMF and\u00a0Bank Of Israel\u2014\u2013\u00a0would be carefully parsing his words. Instead, he was\u00a0apparently moved during a speech to economics students\u00a0to confess that he is more or less flummoxed by his own policies:<\/p>\n<blockquote><p>WASHINGTON\u2014Federal Reserve Vice Chairman Stanley Fischer on Tuesday expressed frustration with ultralow interest rates, saying they should rise over time.<\/p>\n<p>\u201cIt bothers me, it really bothers me,\u201d he said when asked about low rates at an event for economics students at Howard University in Washington<strong><em>\u2026\u2026.I\u00a0don\u2019t like it, but I don\u2019t want to raise the interest rate too much. I think we should at some point. I don\u2019t know when,<\/em><\/strong>\u201d he said. \u201cThe interest rate I believe is not at zero at a normal level and it should be [normal] at some point, not immediately.\u201d<\/p><\/blockquote>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Stanley Fischer\u2019s Novel Idea: \u201cWe\u2019d Be Better Off With A Price For Using Money\u201d The end\u00a0game of central bank lunacy is\u00a0surely near. Even the Fed heads appear to be mumbling bits and pieces of truth in public. Former Philly Fed President Charles Plosser, for example, told\u00a0Bloomberg TV this morning\u00a0that\u00a0central bankers \u201cwring their hands all the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[14399,8658,124,14398,2120,303,418,434,451,536,8854,3650,860],"class_list":["post-21865","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bank-of-israel","tag-bloomberg-tv","tag-central-banks","tag-charles-plosser","tag-david-stockman","tag-fed","tag-imf","tag-international-monetary-fund","tag-janet-yellen","tag-money","tag-stanley-fischer","tag-us-federal-reserve","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/21865","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21865"}],"version-history":[{"count":3,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/21865\/revisions"}],"predecessor-version":[{"id":21868,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/21865\/revisions\/21868"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21865"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21865"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}