Don't they just made up the bs ???
Diamond said the leading opponent to his appointment was the ranking Republican on the Senate Banking Committee, Richard C. Shelby of Alabama. Diamond said Shelby questioned how his academic work on pensions and the labor market fit with conducting monetary policy.
"But understanding the labor market - and the process by which workers and jobs come together and separate - is critical to devising an effective monetary policy," he wrote.
Diamond said he would continue as a professor at the Massachusetts Institute of Technology and would take advantage of opportunities presented to a Nobel laureate.
"I had hoped to bring some of my own expertise and experience to the Fed. Now I hope someone else can," he said
Whats crazy is people like Diamond get paid a lot for next to nothing ???
A monkey could do the same thing for much less and much better.
Understanding how workers and jobs come together ~~~ is critical to an effective money policy ???
Please continue to do what you do best, teach bs....
The sooner the entire FED is removed.... the better....
How many years now have we had a zero interest money policy ??? and what has that done for jobs ??? or the economy ???
and the economy, unless your selling or renting u-hauls or something equally negative ? generally stinks unless you work for the Gov ment... or other protected classes like say UNionized workers IE auto workers ~~~~~~~ Despite an epic never ever experienced before entire failure and business destruction of the entire industy ~~~ if not for the hundreds of billions stolen from your children ~~~ you'd never know they have suffered..
But alas, just think to yourself, he really doesn't know anything and you don't believe in anything I say.