Stanley Fisher of the IMF has warned that the proposed tax cuts are too
inflationary. Which presidential candidate will buckle under?
Do any poor countries not the hypocrasy of the US pushing the weak to
follow IMF dictates.
--
Michael Perelman
Actually, Stanley Fischer of the IMF said
Brad describes Stanley Fischer as saying:
--That tax cuts would surely be accompanied by a tightening of monetary
policy to try to keep the real GDP growth path unchanged, that such a
shift in the policy mix would raise the value of the dollar and increase
the U.S. current account deficit.
Ian posted the WSJ article about the IMF's lousy advice.
Stiglitz also said that the IMF gives the US lousy advice and that the Council
of Economic Advisors laughed at their recommendations. Other countries do not
have that luxury.
right. What's amazing is that the IMF seems to apply the same
*sigh*
I continue to shake my head at the zealous pursuit of inflation as a ("the")
policy goal. The Australian Reserve bank seems to be swaying more and more
towards this goal (if they ever didn't) at the cost of its other stated
objectives, including full employment.
Begs the question of what
Wall Street Journal - September 30, 1999
FEDERAL RESERVE OFTEN TOSSES OUT IMF ADVICE ON ECONOMIC POLICY
By Michael M. Phillips
Staff Reporter Of The Wall Street Journal
WASHINGTON -- Which country has received the worst economic advice
from the International Monetary Fund over the past few
Ian posted the WSJ article about the IMF's lousy advice.
Stiglitz also said that the IMF gives the US lousy advice and that the Council
of Economic Advisors laughed at their recommendations. Other countries do not
have that luxury.
--
Michael Perelman
Economics Department
California State
