circuit — The Federal Reserve Bored

Paul Krugman points out possibly the biggest challenge to sensible, rational policy making and debating these days:

The Times has an interesting headline here: Richard Fisher, Often Wrong but Seldom Boring, Leaves the Fed. Because entertainment value is what we want from central bankers, right? I mean, Janet Yellen is such a drag — she just keeps being right about the economy, and that gets old really fast, you know?

It really is too bad that it's these 'entertainers' -- they range from the likes of Rick Santelli and Larry Kudlow to the establishment types like Fisher -- get such media attention.

The Kardashians of economics and finance. They increase ratings.

On a happier note:

Anyway, in other news, I've had very little to blog these last few months but intend to get back into it in earnest fairly shortly so stay tuned.

Fictional Reserve Barking
The Federal Reserve Bored

circuit

Also

By far the most extraordinary and astonishing thing about ex-Dallas Federal Reserve Bank President Richard Fisher: in spite of being wrong ex post for eight straight years in a row on pretty much everything to do with the appropriate direction of and the risks to Federal Reserve policy, he not only never changed his mind, he never lost his dead-certain iron confidence that he was right....

Maybe if he stayed long enough, he'd be vindicated one of these times. Then he could declare victory. I guess he quit too soon to find out.

WCEG — The Equitablog
Evening Must-Read: Binyamin Applebaum: Richard Fisher, Often Wrong but Seldom Boring, Leaves the Fed
Brad DeLong