Before the month of September is over, many expect the Federal Reserve to begin another bond-buying program. Their motivation, they say, is the weak labor market.
Conservative economist Martin Feldstein, thinks it’s a bad idea, and our economic problems are beyond the Federal Reserve’s ability to fix. Feldstein thinks any benefits to this policy would be minimal. Yet, they appear hardheaded and want to press on.
Our economic problems, including high unemployment, are cultural in nature; along with fiscal disorder, leadership indifference, and enormous repair work from bad decisions early in this century and prior years. In other words, a lot of political problems.