Finished reading the monograph about my the Fed did not foresee the 2008 financial crisis. To summarize the authors’ findings: the FOMC suffers from group think and the members are not very good economist. Also read some of Alan Blinder’s speeches from the 1990s; he was vice chairman of the Fed in the 90s and now is back at Princeton, where he teaches economics.
Was at Ramapo’s first round win at the Bradley Center. Saturday night they will go to the second round against Keene State. Go Roadrunners!