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Shlaes: The Bernanke Church

September 19, 2013 1 minute Read by Robert Asahina

An unholy consensus props up what Amity Shlaes calls the "Bernanke church." Academics, bloggers, journalists, and government officials are nearly unanimous in their support for the Fed's continuing easy-money policy.

But this kind of consensus is "creepy," Shlaes writes in the Chicago Tribune. Instead, she exhorts iconoclasts to "step forward" and "break some glass." Otherwise, "younger Americans will have to pay 1980s-level interest rates on their first homes." Postponing monetary tightening "imposes great costs on an economy," Shlaes argues. "The less concern there is about inflation, the greater difficulty a central bank will have in halting it."

Read Amity Shlaes on "the monetary church."


Author

Robert Asahina

Robert Asahina has been a newspaper and magazine editor and writer, a book publishing executive and editor, and a data management consultant. He was editor in chief and deputy publisher of Broadway Books, president and publisher of the adult publishing group of Golden Books, and vice president and senior editor of Simon and Schuster; deputy managing editor of The New York Sun and an editor at The New York Times Book Review, Harper's, George, and The Public Interest; and a consultant at Freddie Mac. He is the author of "Just Americans" and of numerous articles and reviews for The Wall Street Journal, Harper's, The New York Times Book Review, and elsewhere.

 

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