Mohamed El-Erian, Bloomberg
via Hoover Daily Report
In the new Hoover Institution Press book, Gambling with Other People’s Money, Russ Roberts argues that rescuing rich people from the consequences of their decisions with money coming from average Americans is bad for democracy.
quoting Robert E. Hall via Bloomberg
Ben Bernanke got a big laugh from economists in Atlanta on Jan. 4. A few minutes after Janet Yellen said, “I don’t think expansions just die of old age,” he replied, “I like to say they get murdered.” All right, not that funny. But the nerdy repartee between the past two Federal Reserve chairs at the annual meeting of the American Economic Association reveals how central bankers think about recessions—and says something about how likely it is that the U.S. will tip into one over the next year.