Bill Foster: “As a scientist, I think it's important to--for people to remember that just because people wish that something were true…”

While the Presidency is often the focus of political pronouncements about macroeconomic conditions, there is no question that it undersells the importance and the independence of the work of the Federal Reserve Board.

I think it is my personal goal to die before we have another financial crisis, and then I will be doing my job well.

This made the discharge petition much more effective at its intended purpose, which is sort of to operate as a safety valve against, you know, the Speaker's rather dictatorial power.

The good news is that macroeconomic policy is working as designed.