The Fed’s Paint-By-The-Numbers Insanity: Why Humphrey-Hawkins Should Be Repealed Now

Janet Yellen’s circuitous prattle before the congressional committees this week is a reminder that the Humphrey-Hawkins Act is an obsolete relic and should be repealed. It arose out of the Keynesian heyday in the 1970s and is predicated on a closed US economy. That is, it presumes the macro-economy is a giant bathtub in which demand can be […]
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