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The Hottest Air

Summary:
The usual suspects are flyspecking the minutes of the June meeting of the Federal Open Market Committee (FOMC) for hints of what this camarilla of madmen, dolts, and dunderheads may do next. But that rather misses the point. The real takeaway is that the Federal Reserve amounts to an exceedingly dangerous committee of dilettantes who […]

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The usual suspects are flyspecking the minutes of the June meeting of the Federal Open Market Committee (FOMC) for hints of what this camarilla of madmen, dolts, and dunderheads may do next. But that rather misses the point. The real takeaway is that the Federal Reserve amounts to an exceedingly dangerous committee of dilettantes who […]
David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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