“What the 2013 announcement by the Fed should optimally do is bind his (Bernanke’s) hands against contracting the economy too early. Think of it as Ulysses and the Sirens… Bernanke is basically tying himself to the post saying no matter what happens; no matter (what) creditors, rentiers and the top 1 percent think, I will not raise rates too early.”
– Mike Konczal on the Fed’s announcement to keep interest rates low through 2013
ChrossTalk Episode 11: Mike Konczal
He was recently on MSNBC’s “The Last Word” discussing Rick Perry’s stance on the Federal Reserve.
We’d like to thank Mike Konczal for joining us.