Bush appoints Bernake Chairmen of the Federal Reserve

[vulturesrow]

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Maybe i should start a tally of how many questions you are avoiding,

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Please do. It should a real and meaningful influence on what I decide to post.

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this is a reminder of why I dont post in this forum much anymore.

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Why, because you dont like being called out when you are wrong?

I am going to make this is as simple as I can, because I think you just misunderstood what I was talking about in regard to Bernanke, perhaps I wasnt clear enough. There are different targets you can use with regards to monetary policy. You can use monetary aggregrates (basically the monetarist view popularized by Milton Friedman, which is essentially what Volcker did) or you can maintain a ratio of dollars to some commodity, e.g., gold, as just a couple examples. . Bernanke favors using the movement of some price index as the target of monetary policy, that is to keep inflation at some predetermined level. This is a policy that many central banks adhere to, the US does not. Under Greenspan, we had a de facto price rule, but it wasnt quite the same as the things Bernanke is advocating. I cant really make this any simpler. If you are still confused, there is plenty of info on the Web on Bernanke, including several short pieces he has written. Google "A Crash Course for Central Bankers".