Blogger's View of the Fed
The Kauffman Economic Outlook , a survey of economics bloggers, is out for Q2. The survey had two interesting questions on the Fed, one of which I submitted. Thanks to Tim Kane for including it in the survey. Here is the question and the results: I am not entirely surprised by these results. Most popular accounts and thus the emerging narrative about this experience either downplay or ignore the studies that have shown the monetary policy was a major contributor. I won't rehash them here, but will note that I am editing a book that does shift the focus back to the role the Fed played in the boom and the bust. Stay tuned for more news on the book. I was very surprised to see the responses to the second Fed question. It was submitted by Bryan Caplan and Steve Miller: Wow. Only 16% of the economic bloggers believe the Fed has had a net negative effect while 40% think the Fed has been good on balance. This is surprising. These folks need t...