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.
More Quotes from Alan Blinder:
While Alan Greenspan may have enjoyed more than his share of good luck during his storied tenure as Fed chairman, he was also confronted with a wide variety of challenges that required subtlety, a deft touch and good judgment.Alan Blinder
The Fed is watching with every eye, ear, and nose it has for evidence that oil prices are creeping into core inflation.
Alan Blinder
The current episode is vastly worse than that there's only been the slightest bit of a paltry recovery in the labor market.
Alan Blinder
There is a kind of a cascading chain, ... If one can't sell, then that business doesn't buy and that means the next business doesn't sell, and the previous business doesn't sell, and so on.
Alan Blinder
And the maestro surely wielded the chairman's baton with extraordinary skill. His stellar record suggests that the only right answer to the age-old question of whether it is better to be lucky or good may be both.
Alan Blinder
Readers Who Like This Quotation Also Like:
Based on Keywords: technocratsAlthough working with Amitabh Bacchan was a different experience altogether, I just enjoyed it.
Soundarya
Every charitable act is a stepping stone toward heaven.
Henry Ward Beecher
It is ironic that the United States should have been founded by intellectuals, for throughout most of our political history, the intellectual has been for the most part either an outsider, a servant or a scapegoat.
Richard Hofstadter