And the next Fed chairman is...

It’s a strange job, this chairman of the Federal Reserve gig. Some people (including most of the media and some in political power) seem to think of the chairman as the maestro of the entire global economy. To those of us who know the real story—that the economy actually is, left to its own devices, a bottom up, complex adaptive system—the idea of a captain tweaking the controls is either laughable (in its impotency) or maddening (in the damage being caused). Personally, I’d prefer to see the whole role made redundant, or at least savagely demoted. And I’d like to...

It’s a strange job, this chairman of the Federal Reserve gig. Some people (including most of the media and some in political power) seem to think of the chairman as the maestro of the entire global economy.

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