Who’s ready for decades of low or negative U.S. interest rates?
“He might have to replace the Fed chairman in the process. Judy Shelton and Christopher Waller (decidedly a soft money advocate) are both chairperson material. My guess is that it would be Richard Clarida who has the resume for it and also has been very malleable to Trumponomics. This goes back to what I wrote about two weeks ago: Trump is an unstoppable force that is going to change the face of macroeconomics for decades.”
USAGOLD note: This article is mostly a critique of Judy Shelton’s simultaneously endorsing zero per cent interest rates and the gold standard. Some see it as hypocritical, but as long as gold standard advocates are asked to function in a Keynesian system when they don their administrative hat, they will have an opinion as to what should be done with that system in this time and place. Alan Greenspan, another gold standard advocate, was one example of that dichotomy in action. Perhaps Judy Shelton will be another. “People should spend less time thinking about whether the U.S. women’s team is invited to the White House,” says Dillian, “and more time thinking about why Judy Shelton is a ZIRP NIRP gold bug.”