On Wednesday, Vox’s Matt Yglesias argued that President Obama’s biggest economic failure has been his neglectful handling of the Federal Reserve. “This is a failure that sounds boring,” Yglesias writes, “but has likely doomed millions of people to needlessly long spells of unemployment.” It’s true that Fed policy has been too tight after the recession. But Yglesias both overestimates Obama’s ability to influence the Fed and ignores Obama’s actual biggest economic failure: housing policy.
Read Full Article »
