The alleged improved performance of the Fed after WWII doesn’t include the recent housing boom and financial collapse.
Whoa. I thought that the housing bubble was caused by Bernanke lowering the interest rates. Isn’t that what the Austrians have been saying for so long? Why doesn’t the performance of the Fed after WWII include the recent bubble?
So then, what of the argument that the Federal Reserve causes instability and longer crises? This data doesn’t seem to coincide with the Austrian theory that the Fed leads to longer lasting busts.
Or am I just way off the mark?