brainard-bill-clinton

Clinton: well, because Hillary is a candidate, I would be happy to offer an opinion if she weren’t a candidate. But I think it would be wrong to do so because she is. However, I will say this. Janet Yellen, Lael Brainard, whom I know, several others—these are really smart people and they’ll do what they think is right. And i think the political emphasis is overrated because I think whatever happens is if that they think is right economically will be manageable economically at this point. But it’s been a perplexing time. There was a very long tail on this financial crash that explains most of the road rage in the American electorate and much around the world. And so, we just finally had one good year-on-year report on rising per capita income. 5.2 percent. And family incomes. About 2.5, I think. So what they’ll do is they’ll look at that in the long-term numbers, and they’ll see whether they could actually if they’ve got longer term growth, would it actually help to tick up interest just a tad, or should they leave it where it is because in spite of the growth figure, the jobs figures are not still robustly growing so much. They got more data than i do. I trust them to make the decision.

Source:  Read Bill Clinton’s full interview about the Fed, his foundation and US jobs  |  CNBC

Credit goes to the readers – you guys are a really astute bunch.  After my recent article detailing Janet Yellen’s response to a query on Lael Brainard’s conflicts of interest at the Fed was picked up by ZeroHedge, someone questioned why I had not included Bill’s commentary on Brainard and Yellen in the above interview with CNBC.  I hadn’t even seen the interview in the first place.  And, after looking closely at Bill’s interview… I’m kicking myself for not seeing it and including anything on his commentary.  The conflicts of interest at the Fed clearly go beyond prior employment and campaign contributions.

Continue reading “Even Bigger Conflicts, Of Rational Self-Interest”