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In a 2010 Bloomberg Television interview, Alan Greenspan said, “The general notion the Fed was propagator of the bubble by monetary policy does not hold up to the evidence. ... Everybody missed it — academia, the Federal Reserve, all regulators.” Everybody missed it?
Anyone reading the regular Federal Open Market Committee press releases can easily envision Chairman Yellen and the Federal Reserve team at the economic controls, carefully adjusting the economy’s price level and employment numbers.
Nobel laureate Paul Krugman criticized both parties, the administration, as well as the Federal Reserve for not doing enough to stimulate the economy after the financial crisis of 2008.
