Zeev's Turnips Patch-No Politics (ZEEV)

[gtober]

i think he added fuel to the fire by increasing rates after the bubble had burst. the economy was still a little hot, but i think that was a hangover from the tech spending binge related to the y2k scam.

i think he made an emotional decision and wanted to break the bubbles back (by targetting the stock market), rather than simply attempting to manage the economy. now, we have 1% rates and still a sluggish economy. (and a resultant housing bubble) we really are in need of inflation, but we have a yield curve screaming rate increase.

a bit of overmanaging IMO. overall, he's done a fine job. low inflation and economic growth. there will always be naysayers, but this isn't factory work. what worked last time doesn't always work this time.