Stanley Fischer hearing March 13 2014 Vice Chairman Federal Reserve Board

March 13, 2014

The hearing of Stanley Fischer to be vice chairman of the Federal Reserve Board is being held March 13, 2014.  The hearing is by the Senate Banking Committee with Tim Johnson as chairman and Mike Crapo as ranking member.

http://www.banking.senate.gov/public/index.cfm?FuseAction=Hearings.Hearing&Hearing_ID=adc83227-bf93-4387-9922-08d62b25930a

Witnesses

Panel 1

  • Dr. Stanley Fischer [view testimony]
    to be a Member and Vice Chairman of the Board of Governors of the Federal Reserve System
    Board of Governors of the Federal Reserve System
  • The Honorable Jerome H. Powell [view testimony]
    to be a Member of the Board of Governors of the Federal Reserve System
    Board of Governors of the Federal Reserve System
  • The Honorable Lael Brainard [view testimony]
    to be a Member of the Board of Governors of the Federal Reserve System
    Board of Governors of the Federal Reserve System
  • Mr. Gustavo Velasquez Aguilar [view testimony]
    to be an Assistant Secretary of the U.S. Department of Housing and Urban Development
    U.S. Department of Housing and Urban Development
  • Mr. J. Mark McWatters [view testimony]
    to be a Member of the National Credit Union Administration Board
    National Credit Union Administration Board

The hearing is only 2 hours for 4 people so it is a formality.

Stanley Fischer opening statement.

No apology for plagiarizing Nils Hakansson or not citing him in his March 21, 1989 book with Olivier Blanchard, Lectures on Macroeconomics. There he gave sole credit for multiple period portfolio and consumption and savings decisions to Paul Samuelson and none to Nils Hakansson who actually created it. Hakansson is still not a Fellow of the Econometric Society.

Fischer is talking down to the committee giving a talk that sounds like he is part of the permanent rulers of the financial regulatory system. He uses acronyms that he knows most people can’t understand. This is to show he is a longtime insider at the top of regulating the financial system everywhere in the world.

Stanley Fischer thinks of himself as the top financial regulator expert in the world.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: