In trying to answer the big questions about the central banks and global economy- I think it is important to note these historical facts and ask what their relevance might be:

Paul Volcker was appointed by liberal Jimmy Carter to be the head of the Fed, and was re-appointed by conservative Ronald Reagan. Alan Greenspan was appointed to head the Federal Reserve by Reagan, and then was re-appointed by President Bush I, Clinton, and again Bush II. This begs the question of how such a powerful position in managing our nation’s monetary policies can remain so “above” all the political cat-fighting between so-called “liberal” politicians and so-called “conservative” politicians. Shouldn’t there be a real difference of opinion when it comes to who should hold such key positions of power in the overall economy? I will add that Paul Volcker was named by President Obama to be “First Chair of President’s Economy Recovery Advisory Board”- so the musical chairs continues- is this some kind of a game?

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