Friday, July 18, 2008

Seven Questions for William Poole

The former St. Louis Fed president speaks with Foreign Policy about the GSEs, the credit crisis, and the economy, "Seven Questions: How Bad Will it Get?". Intro:

When William Poole warned in 2003 that Fannie Mae and Freddie Mac lacked the capital to weather a financial storm, his advice went unheeded. Five years later, the outspoken former president of the Federal Reserve Bank of St. Louis is far too polite to say “I told you so,” but he does have a message for the Fed: Wait too long to tackle inflation, and you’ll face an even worse recession in the years to come.

It's worth reading this brief interview in its entirety.

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