Geithner the Austrian?
Well, no. Not quite. However, he did give a shout out to the Austrian Business Cycle Theory.
“I would say there were three types of broad errors of policy and policy both here and around the world. One was that monetary policy around the world was too loose too long. And that created this just huge boom in asset prices, money chasing risk.”
So, what’s Geithner or the Obama administration doing to pressure the Fed to fix this problem? My guess is nothing. We’ll continue to follow the same loose money policies.
Hat tip: Gene Callahan
Dustin Anderson is currently working towards his BBA in Economics, Banking & Finance at Northwood University in Midland Michigan and is the owner and main contributor of Rational Conduct. To contact Dustin send him an email.
Categories: Economic Theory
