Christina Romer is the most dangerous woman in America right now. As an economics professor at the University of Berkeley, she’s charged with educating the next generation of productive citizens. She also formerly chaired the Council of Economic Advisors under President Obama.
One would think that a person with that level of influence would have a bit of sense. One would think. Yet Romer rarely fails to disappoint.
In a recent New York Times editorial entitled, “Dear Ben: It’s Time for Your Volcker Moment,” Romer publicly tries to goad Ben Bernanke into doing MORE to fight the great contraction.
It’s not enough that Mr. Bernanke has expanded the money supply by an amount never before seen in the history of the world. It’s not enough that he’s nearly exhausted every policy tool at his disposal. It’s not enough that global confidence in the dollar is fading rapidly.