So, as expected, Obama has finally formally appointed Janet Yellen to chair of the US Federal Reserve, taking over from PrintMaster-in-Chief Bernanke, who took over from BubbleMaker-in-Chief Greenspan.
That’s Janet Yellen, the woman who sincerely believes that Japan’s biggest problem was they didn’t print enough money. Of whom, when she was appointed as Vice PrintMaster, Gerard Jackson observed,
Janet Yellen is an inflationist first and foremost. She has made it abundantly clear that all of her policy suggestions will be geared to promoting an inflationary policy. Like all Keynesians she seems congenitally incapable of grasping the dangerous microeconomic consequences of inflation for investment, jobs and the standard of living. She is in fact a very dangerous woman.
Do you think this will end well?