Sorry!! The article you are trying to read is not available now.
HOT TAGS:  

Mishkin Defends Bubbles

Print comment Post Comments
IN DEFENSE OF THE FED
“Not all bubbles present a risk to the economy,” says Frederic Mishkin.

The Naked Capitalism blog points out that It was Mishkin who in January 2007, argued that:

that this concern about burst bubbles may be overstated. To begin with, the bursting of asset price bubbles often does not lead to financial instability…Japan’s experience is that the serious mistake for a central bank that is confronting a bubble is not failing to stop it but rather failing to respond fast enough after it has burst….

With a track record like that, should anyone take anything he says about bubbles seriously?"

 

SOURCE:   Naked Capitalism

TICKERS