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Human Events
Why Don’t These
Candidates Ever Talk about Money?
Lawrence Kudlow
Monday Sep 21, 2015
While there were some great moments in the latest GOP debate, and some
terrific individual performances — Carly Fiorina seemed to grab all the
buzz in the aftermath — one thing that barely came up was the economy.
It was very much like the first debate.
The day after the candidates faced off, Fed chair Janet Yellen
announced a stand-pat, no-interest-rate-liftoff policy. Now, I don’t
expect presidential candidates to be Fed watchers. But Yellen did raise
the issue of a still-soft economy, despite all the QE and
zero-interest-rate policies. And I think Yellen was right. There will
be a time to normalize Fed target rates. But not yet.
That said, it would have been a good thing if any of the candidates
talked about our money. A strong and steady dollar — the world’s unit
of account (in theory) — is pro-growth, as we saw in the ’60s, ’80s,
and ’90s. A collapsing greenback smothers growth, as we saw in the
2000s.
I would have loved to have seen one or more of the candidates talk
about a strong dollar, a rules-based Fed policy and international
monetary coordination. Alas, it was not to be. Maybe we’ll hear about
the dollar at the CNBC debate on Oct. 28. But an opportunity was missed
on Sept. 16.
Interestingly, on the day of the debate, the Census Bureau revealed
another round of stagnating incomes for the middle class. But the words
“middle class” and “economic growth” were mentioned by the GOP debaters
only four or five times, according to AEI economist Jim Pethokoukis. He
laments that Republicans have been missing great opportunities to show
a modern vision about growth...
Read the rest of the article at Human Events
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