Ex-IMF’s Johnson queries NY Fed’s bubble-bursting claims
Simon Johnson, a former director of the research department at the International Monetary Fund (IMF), has questioned whether the Federal Reserve can dampen asset-price bubbles.
In comments published last week, William Dudley, the president of the New York Federal Reserve, said that the central bank could successfully identify and temper bubbles.
But in a post published on his Baseline Scenario blog on Monday, Johnson queried the New York Fed president's confidence. "It's an attractive idea," the
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