We Are Not Making It Up as We Go Along
But Narayana Kocherlakota Was Supposed to Be the Really Smart and Reality-Based Minnesota Economist!

Another Data Point that the Failure to Staff the Federal Government Has Been Obama's Biggest Failure

Matthew Yglesias:

Fed Split: Kill me now as the WSJ makes it clear that the FOMC is sharply divided over monetary policy: “At least seven of the 17 Fed officials gathered around the massive oval boardroom table, made of Honduran mahogany and granite, spoke against the proposal or expressed reservations. At the end of an extended debate, Mr. Bernanke settled the issue by pushing successfully to proceed with the move.”

Sure would’ve been nice for Barack Obama to have had some nominees confirmed.