Fed hawks

[Fellows, Jeffrey]

I agree with Barkley that there are limitations in the expression of
centralized power, indeed that is almost always, if not always the case.
Thanks for adding such temperance. Jeff

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From: Rosser Jr, John Barkley
To: lbo-talk at lists.panix.com
Cc: 'lbo-talk'
Subject: Re: Fed hawks
Date: Thursday, September 17, 1998 5:46PM

     I think the institutional authority of the Fed Chair
is overstated in this post.  Ultimately the Fed Chair's
authority comes from an ability to convince a bunch of big
ego other people to go along.  AG has been in for a long
time, has the rep of having "saved the system" back in 87,
has outlasted all other BOG members, and out datawonks
anybody in the room, probably beating out our much revered
Doug Henwood even.