- Inflation numbers have been fantastic.
- We are focused on what we can do to make sure the shocks from oil are minimized.
- We waved the Jones Act which has helped to minimize the impact of the oil shock.
- All the many voices of the Fed has created a capacity of confusion.
- He is bringing in people to look at the models that have been so wrong.
- Countries that adapt socialism have no goods on the shelves
Nothing new here. The interviews tend to move from what is going on, to a political, fear discussion. If he is the head of the NEC, speak to the economy. Stick to the economy. The data is there. The Fed has not been good about the dot plot, so why should Warsh’s task force me better at it? It is a random walk and you add the propensity to solve “problems” by creating problems, and it is anyone’s guess no matter the administration. Not having a dot plot, means they can “say” they got it right and not embarrass themselves, which may be good overall, but it doesn necessarily mean they did the right thing.
This article was written by Greg Michalowski at investinglive.com.