I think they're right on the curve but in danger of being behind the curve.
More Quotes from Alan Blinder:
He was confident in his judgment, and he was right. The lesson is that sometimes you can't wait for the data to be definitive.Alan Blinder
Monetary policy has become much less political than it used to be years back, and centuries back. There's a consensus on what monetary policy should be doing, which is to say keeping inflation low and, subject to that constraint, keeping employment high. So politicians take this attitude that it's for technocrats, and it doesn't matter too much whether the guy is a Republican or a Democrat.
Alan Blinder
Never treat only one productivity number that seriously, ... What you have to remember is that productivity has always been very cyclical. When the economy sags, productivity sags.
Alan Blinder
It's not a lack of transparency when you stop giving information when there is nothing to give, and we're getting pretty close to that point.
Alan Blinder
The Fed really tried to throw some cold water on those who are saying the recession's over already, ... The optimists are declaring it over already ... I think there's a good chance they're wrong, and the Fed obviously is predicating policy on the basis that they are wrong.
Alan Blinder
Public opinion is presumptively an input to policy formation in a democracy because politicians respond to it or at least are believed to respond to it.
Alan Blinder
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