The reason I could never be a government official
Daniel Sherry sent me this video of William Dudley responding to his question during Dudley’s talk at Cornell.
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10 Responses to “The reason I could never be a government official”
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A slightly off-center perspective on monetary problems.
Daniel Sherry sent me this video of William Dudley responding to his question during Dudley’s talk at Cornell.
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This entry was posted on October 26th, 2010
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10 Responses to “The reason I could never be a government official”
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26. October 2010 at 19:29
I loved the little arm thing. I suppose Dudley would have felt a little more comfortable with a chalboard or a whiteboard.
26. October 2010 at 21:10
http://www.calculatedriskblog.com/2010/10/report-fed-will-probably-use-gradual.html
My god, it’s 1.75%-2%! With about $100B a month to try and get there!
—–
Dear God, are you there? it’s me Morgan…
*******censored*******
I’m also glad that the FOMC finally radioed down to Scott Sumner their super duper clear intentions for the next couple months…
Now we can get down to brass tacks:
1. Since the Fed is committed to the target, isn’t it really about getting as many Productivity Gains as we can out of the Public Employees and Private Sector… SINCE right now for sure… since any deflationary forces will be boldly met with more QE…. Isn’t 2% deflation + 2% targeting JUST LIKE 4% inflation???
2. And wouldn’t it be GREAT if home prices continued to fall, since it would mean other prices are going up with the QE?
To me these are crucial questions because they pick POLICY fights with the guys Scott should be fighting with… and as it says in Leviticus, smite down the meek economist who plays at being apolitical.
I know you are busy god… what with Obama trying to get his soul back from the Devil… and the Cleveland Browns kicking the bejeezus out of the Saints, but Scott Sumner REFUSES to answer my questions his own self.
27. October 2010 at 08:09
Mark, I like the fact that Fed officials can’t escape from my questions, no matter where they go. 🙂
Morgan, If you say things like that b**** followed by a real sounding name, I’m gone to get very nervous about libel suits. Be careful you don’t get banned.
27. October 2010 at 09:57
What’s the implicit reason you can’t be a government official that I’m missing?
There was this weird smirk on Dudley’s face after Dan said nominal GDP in his question as if he caught on where the reference was coming from. “Oh no, a Sumner disciple has found me!”
27. October 2010 at 10:52
I take it Scott, you are not a fan of prolific young adult novelist Judy Bloom…
http://en.wikipedia.org/wiki/Are_You_There_God%3F_It%27s_Me,_Margaret.
And you still aren’t going to answer my questions? my god man.
27. October 2010 at 11:03
Edwin A, I caught that too and thought the same thing. You just know he was thinking “Sumner”.
27. October 2010 at 17:32
Edwin, I would have actually answered his question. I guess government officials are not allowed to do that.
Morgan, I am a bit behind in my reading of “young adult” novelists. You can’t be too careful in a litigious society like America.
If I haven’t answered your question yet, chances are I never will, I’ve already forgotten the question.
Dustin, Do you think anyone at the Fed pays attention to Bentley University profesosrs?
27. October 2010 at 23:00
Yes, Scott. I’ve heard they hold classified meetings where they discuss the “Sumner problem”.
28. October 2010 at 16:01
I especially liked the “related video” (http://www.youtube.com/watch?v=aRkKRZj0sWI&NR=1&feature=fvwp): Dudley Boyz – ”Drop The Bombshell”
4. November 2010 at 16:45
Leigh, A bit too in your face for my taste. But perhaps watching it would have turbocharged Bernanke’s adrenaline before the FOMC meeting.