Friday, July 31, 2009

Willem Buiter advocates Janet Yellen for Fed Chair

Via Greg Mankiw, Buiter's nicely written piece is here. If I might sum:
1. Our Fed Chair terms of service are bad

2. The process by which the Fed Chair is appointed is bad

3. Bernanke is defending himself, in response to criticism

4. Buiter knows Yellen personally

5. Yellen has no experience as a supervisor or regulator
Perhaps my lack of intellect is a crucial factor, but why am I unconvinced?

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