During the critical year of 2007, between the end of the housing bubble and the onset of the financial crisis, major officials of the Federal Reserve made claims that appear to have been designed more to prop up confidence in a shaky system than to give real insight into what was actually happening. These people were supposed to be the country’s experts on the topics involved, and they could not have been more consistently wrong. Why?
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“Transparency or Deception: What the Fed Was Saying in 2007” (PDF), by Mark Thornton
Ep. 366 If There Were an Aristocracy of Wrong, Its Lords Would Be Fed Chairmen
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