[lbo-talk] Labor council on monetary policy

[Ben Jackson]

"[Maximum] growth and full-employment consistent with reasonable price
stability" doesn't sound like much of an endorsement for a monetarist
economic policy if that's what you're getting at.

On Sun, Mar 15, 2009 at 7:14 PM, Bill O'Connor <billyoc at gmail.com> wrote:
> Ben Jackson <nonplus.plus at gmail.com> writes:
>
>> Is there such a thing?  If monetary policy is such a weapon of class
>> warfare, do national unions ever work together to affect it?  Or to
>> politicize it?
>>
> >From the tesimony of the AFL-CIO chief economist before the Senate
> Banking Committee:
>
> [...]
>
> First and foremost, providing a sound basis for American economic growth
> requires careful coordination of  fiscal and monetary policy between the
> Federal  Reserve  and  the  Treasury  to  maintain  maximum  growth  and
> full-employment  consistent   with  reasonable  price   stability.  This
> requires, particularly  on the  part of the  Federal Reserve,  a careful
> monitoring  of developing  asset bubbles  so they  do not  undermine the
> strength and stability of economic growth.
>
> [...]
>
> http://www.aflcio.org/mediacenter/prsptm/tm03112008a.cfm
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