I generally try to avoid commenting on monetary policy. Not because I don’t have opinions, but for the simple reason that I don’t follow the issue closely enough to feel fully confident about what I say.
This doesn’t mean I’m happy with Fed Chairman Bernanke. But I’m most likely to be upset that he is making misguided statements about fiscal policy (endorsing the faux stimulus, endorsing bailouts, endorsing tax increases, and siding with Obama on the debt-limit fight).
On monetary policy, as I’ve previously explained, it’s possible that “easy money” is the right approach. I’m skeptical, but I admitted on CNBC that the TIPS data does suggest that future inflation is not a problem.
So with all these caveats out of the way, I don’t embrace everything in this video, which is very critical of the Fed, but it’s amusing and worth sharing.
If you find it even remotely interesting and/or amusing, then you definitely should watch the famous Ben-Bernank-quantitative-easing video.
And if you want to actually understand more about the Federal Reserve and monetary policy, then you should watch this video on the history of the Fed featuring Professor George Selgin.