Yellen, Volcker, Bernanke and Greenspan: No Bubbles, No Troubles

Janet Yellen  gave an optimistic assessment of America’s performance, dismissing suggestions put forward by Donald Trump among others that it was a “bubble” economy,

When Mr Volcker was at one point asked if any of his successors had put too much “vodka in the punch bowl” by running excessively lax policy, he merely responded that he looked at them with “great awe”.

Both Mr Bernanke and Mr Greenspan chimed in that they did not see a looming risk of recession.

FT 8 April 2016

Donald Trump said in an interview that economic conditions are so perilous that the country is headed for a “very massive recession” and that “it’s a terrible time right now” to invest in the stock market, embracing a distinctly gloomy view of the economy that counters mainstream economic forecasts.

The New York billionaire dismissed concern that his comments — which are exceedingly unusual, if not unprecedented, for a major party front-runner — could potentially affect financial markets.

Trump Unbound, by David Stockman • April 4, 2016


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