Don’t Ignore Obama’s Most Important Policy Choice

Matt Yglesias argues the hyper focus on exercising the president’s  executive power is only a short-term fix.

“President Obama completely ignored the single most important lever he has at his disposal to boost the economy in the short term [namely,] the Federal Reserve which does have the power to act in the short term to boost the economy.”

“This question of what will Yellen, Fischer, and Brainard do and of who will be the fourth person to join them and what will she do is the dominant public policy driver of the labor market over the next couple of years. And yet nothing was said.”

  • Bob Fishell

    Appointing Yellen over Summers speaks to what Obama wanted to do, whether he mentioned it in the speech or not.

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