William Niskanen
William Niskanen
William Arthur Niskanenwas an American economist noted as one of the architects of President Ronald Reagan's economic programme and for his contributions to public choice theory. He was also a long-time chairman of the libertarian Cato Institute...
case reagan
That was the case with the Reagan administration in 1986.
bothers
It bothers me enormously how we've responded to this problem. This is just way out of bounds.
bubble continue dollars financial housing interest invest major rates unlikely
It is most unlikely that they will continue to invest as much in dollars as they have. This is the major financial crisis. The dollar would go down. Interest rates would go up. The housing bubble would end.
brought good job wisdom
I think he's done an extraordinarily good job. I worry, however, that the wisdom he has brought to that job has not been institutionalized in the Fed.
business executives ought senior worrying
That's not what senior executives ought to be doing with their time. They ought to be worrying about business decisions.