Monday, 24 March 2014
Bernanke says the Fed didn’t do enough. Scott Sumner is thrilled.
Scott Sumner, the world’s most ardent anti-Keynsian and ardent opponent of fiscal stimulus, is thrilled that Bernanke says the Fed didn’t do enough monetary stimulus during the recent recession. That, so Sumner claims, is support for his Market Monetarism.
Just one problem there: Bernanke also said there wasn’t enough fiscal stimulus. See here, and here, and here, and here, and here.
But if you want more, then Google “Bernanke fiscal congress” or something like that.