by Mark Thoma, University of Oregon (Department of Economics)

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Should William Poole Say I Told You So ?

Posted on July 17, 2008

Questions for William Poole:Seven Questions: How Bad Will It Get?, Foreign Policy: When William Poole warned in 2003 that Fannie Mae and Freddie Mac lacked the capital to weather a financial storm, his advice went unheeded. Five years later, the outspoken former president of the Federal Reserve Bank of St. Louis is far too polite to say I told you so, but he does have a message for the Fed: Wait too long to tackle inflation, and you ll face an even worse recession in the years to come.Foreign Policy: What s your diagnosis of what happened to Fannie Mae and Freddie Mac? William Poole:...

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core inflation , currency , default rate , economy , fed , federal reserve , greenspan , housing , real estate , the fed