Thursday, June 26, 2008

Inflation Doves

NRO's Larry Kudlow laments that Ben Bernanke and the Federal Reserve Board seem to be turning their backs on a monetary policy that has successfully contributed to economic growth for the last quarter of a century:

Talk of major new tax hikes is in the air today, while the inflationary decline of the American dollar is plain fact. It’s as though our economic memory is being erased, both in tax and monetary terms. Staunchly optimistic supply-siders Arthur Laffer and Steve Moore are even finishing a book on the subject. Called The Gathering Economic Storm, its concluding chapter is titled: “The Death of Economic Sanity.”


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