Friday, April 11, 2008

A Fed Chairman Worth Listening To

I don't agree with all of his views, but Paul Volcker is the best Federal Reserve Chairman this country has seen. He understood the role of the Fed, the importance of its independence, and he wasn't afraid to administer some much needed but politically unpopular medicine to this country as Chairman of the Fed from 1979 to 1987. Greenspan and Bernanke look like confused, spineless, political, patsies next to this guy. He's always worth a listen. The following is his April 8th speech to the Economic Club of New York:

Bloomberg Video of Volcker speech