Thursday, July 30, 2009
Junior on Kohn
Junior rips Donald Kohn (DK) Junior Deputy Accountant, 9 July 2009, link: http://www.jrdeputyaccountant.com/2009/07/incredulous-as-ever-fed-vice-chair-kohn.html. Junior took DK's head off! Junior must be a Moslem at heart. If she gets bored where she is, she has a promising career ahead (ugh) of her in Saudi Arabia. As an executioner! Swing that sword Junior!
"A top [Fed] official warned lawmakers Thursday that intruding on the central bank's long-held independence on monetary policy could raise inflation fears and push long-term interest rates higher. Testifying before a House Financial Services subcommittee, Fed Vice Chairman Donald Kohn pushed back against congressional efforts to rein in the Fed and widen politicians' authority to audit the central bank", Sudeep Reddy at the WSJ, 10 July 2009, link: http://online.wsj.com/article/SB124716141172118959.html.
Is DK saying interest rates are below where he believes the free-market would set them? If so, I agree. Here I go with my answer to "Carthage must be destroyed". "Got gold? Get more. Got bonds? Sell, immediately"!