December 17, 2010 Reading Time: < 1 minute

“Mr. Paul takes on the subcommittee post at a time when the Fed is far better known than it was in the 1960s, and after its reputation has alternately soared and plunged. It was given credit for the long booms of the 1990s and earlier this decade, and for steering the economy out of the mild 2001 recession. There was criticism of its role in the technology stock bubble that preceded that downturn, but it was mild compared with the excoriation the Fed received for its failure to counteract the housing bubble that led to the recession that began in 2007.” Read more.

“Ron Paul Appears Poised to Irk the Fed Chief”
Floyd Norris
New York Times, December 16, 2010.

Image by Idea go / FreeDigitalPhotos.net.

Tom Duncan

Get notified of new articles from Tom Duncan and AIER.