http://www.theatlantic.com/politics/archive/2011/05/herman-cain-federal-reserve-chairman-tea-party-champion/239519/
More on Herman Cain's relationship with the Fed:
Jennings said Cain fit the profile of the Kansas City Fed. "Inflation was always the big bugaboo," he told me, "and when it comes to monetary policy, he was an inflation hawk. I'll tell you, that's the most conservative bunch of guys I've ever met."
Fed watchers caution against reading too much into Cain's chairmanship. "That's a part-time job -- typically meeting once every two weeks -- to give feedback to the bank president," Vincent Reinhart, a scholar at the American Enterprise Institute and a former director of the Federal Reserve Board, told me. "Its most important role is to lead the search for a new president, but that wouldn't apply because the same president [Hoenig] served through the 1990s."
For what it's worth, would it not be a good thing to have a president in the coming years who has a really good grasp of monetary policy and who sees with a cautious outlook? We're in for a rough ride in the near future and getting a brake on our debt needs to be done, and quickly.
More on Herman Cain's relationship with the Fed:
Jennings said Cain fit the profile of the Kansas City Fed. "Inflation was always the big bugaboo," he told me, "and when it comes to monetary policy, he was an inflation hawk. I'll tell you, that's the most conservative bunch of guys I've ever met."
Fed watchers caution against reading too much into Cain's chairmanship. "That's a part-time job -- typically meeting once every two weeks -- to give feedback to the bank president," Vincent Reinhart, a scholar at the American Enterprise Institute and a former director of the Federal Reserve Board, told me. "Its most important role is to lead the search for a new president, but that wouldn't apply because the same president [Hoenig] served through the 1990s."
For what it's worth, would it not be a good thing to have a president in the coming years who has a really good grasp of monetary policy and who sees with a cautious outlook? We're in for a rough ride in the near future and getting a brake on our debt needs to be done, and quickly.
