Post by Deleted on Feb 11, 2016 16:30:15 GMT
Am watching Yellen. She does not follow a rule based monetary policy (like price of gold, trade weighted currencies, or basket of commodities). She admitted that. Listening to her is frightening. A rule based monetary policy is one that markets set. Not 12 ppl in some DC office. The gold standard was one, and Volker used a commodities basket one. Yellen has shown she has no grasp whatsoever of how currency purchasing power is set. Only good thing for politically minded ppl is this testimony today bears very badly for the party in power, a party that is anti-pharma.