Skip to content
  • Home Home Home, current page.
  • Moments Moments Moments, current page.

Saved searches

  • Remove
  • In this conversation
    Verified accountProtected Tweets @
Suggested users
  • Verified accountProtected Tweets @
  • Verified accountProtected Tweets @
  • Language: English
    • Bahasa Indonesia
    • Bahasa Melayu
    • Català
    • Čeština
    • Dansk
    • Deutsch
    • English UK
    • Español
    • Filipino
    • Français
    • Hrvatski
    • Italiano
    • Magyar
    • Nederlands
    • Norsk
    • Polski
    • Português
    • Română
    • Slovenčina
    • Suomi
    • Svenska
    • Tiếng Việt
    • Türkçe
    • Ελληνικά
    • Български език
    • Русский
    • Српски
    • Українська мова
    • עִבְרִית
    • العربية
    • فارسی
    • मराठी
    • हिन्दी
    • বাংলা
    • ગુજરાતી
    • தமிழ்
    • ಕನ್ನಡ
    • ภาษาไทย
    • 한국어
    • 日本語
    • 简体中文
    • 繁體中文
  • Have an account? Log in
    Have an account?
    · Forgot password?

    New to Twitter?
    Sign up
JustinWolfers's profile
Justin Wolfers
Justin Wolfers
Justin Wolfers
Verified account
@JustinWolfers

Tweets

Justin WolfersVerified account

@JustinWolfers

Professor @UMichEcon & @FordSchool | @NYTimes contributor | Senior Fellow @BrookingsInst & @PIIE | Intro Econ textbook author | Think Like an Economist podcast

Ann Arbor, MI
nber.org/~jwolfers
Joined July 2011

Tweets

  • © 2021 Twitter
  • About
  • Help Center
  • Terms
  • Privacy policy
  • Cookies
  • Ads info
Dismiss
Previous
Next

Go to a person's profile

Saved searches

  • Remove
  • In this conversation
    Verified accountProtected Tweets @
Suggested users
  • Verified accountProtected Tweets @
  • Verified accountProtected Tweets @

Promote this Tweet

Block

  • Tweet with a location

    You can add location information to your Tweets, such as your city or precise location, from the web and via third-party applications. You always have the option to delete your Tweet location history. Learn more

    Your lists

    Create a new list


    Under 100 characters, optional

    Privacy

    Copy link to Tweet

    Embed this Tweet

    Embed this Video

    Add this Tweet to your website by copying the code below. Learn more

    Add this video to your website by copying the code below. Learn more

    Hmm, there was a problem reaching the server.

    By embedding Twitter content in your website or app, you are agreeing to the Twitter Developer Agreement and Developer Policy.

    Preview

    Why you're seeing this ad

    Log in to Twitter

    · Forgot password?
    Don't have an account? Sign up »

    Sign up for Twitter

    Not on Twitter? Sign up, tune into the things you care about, and get updates as they happen.

    Sign up
    Have an account? Log in »

    Two-way (sending and receiving) short codes:

    Country Code For customers of
    United States 40404 (any)
    Canada 21212 (any)
    United Kingdom 86444 Vodafone, Orange, 3, O2
    Brazil 40404 Nextel, TIM
    Haiti 40404 Digicel, Voila
    Ireland 51210 Vodafone, O2
    India 53000 Bharti Airtel, Videocon, Reliance
    Indonesia 89887 AXIS, 3, Telkomsel, Indosat, XL Axiata
    Italy 4880804 Wind
    3424486444 Vodafone
    » See SMS short codes for other countries

    Confirmation

     

    Welcome home!

    This timeline is where you’ll spend most of your time, getting instant updates about what matters to you.

    Tweets not working for you?

    Hover over the profile pic and click the Following button to unfollow any account.

    Say a lot with a little

    When you see a Tweet you love, tap the heart — it lets the person who wrote it know you shared the love.

    Spread the word

    The fastest way to share someone else’s Tweet with your followers is with a Retweet. Tap the icon to send it instantly.

    Join the conversation

    Add your thoughts about any Tweet with a Reply. Find a topic you’re passionate about, and jump right in.

    Learn the latest

    Get instant insight into what people are talking about now.

    Get more of what you love

    Follow more accounts to get instant updates about topics you care about.

    Find what's happening

    See the latest conversations about any topic instantly.

    Never miss a Moment

    Catch up instantly on the best stories happening as they unfold.

    Justin Wolfers‏Verified account @JustinWolfers 4 Apr 2019

    Justin Wolfers Retweeted Jonathan Swan

    Herman Cain dropped out of the Republican primary amindst at least four allegations of sexual harrassment, so of course Presidential Trump wants to appoint him to the Federal Reserve.https://twitter.com/jonathanvswan/status/1113824926019010562 …

    Justin Wolfers added,

    Jonathan SwanVerified account @jonathanvswan
    Scoop: Trump expected to name Herman Cain to the Fed https://www.axios.com/trump-wants-herman-cain-federal-reserve-4b497361-d12a-4c5a-a2db-28ffe1d36b58.html?utm_source=twitter&utm_medium=twsocialshare&utm_campaign=organic …
    8:59 AM - 4 Apr 2019
    • 1,944 Retweets
    • 5,252 Likes
    • Appaloosa Leather Mr_management @heidithemusical Independent Report MENTAL HEALTH INITIATIVE RWANDA - MHIR Grandmother Who Cares 🍄 Rael 🍯🦡 Teresa O Connie Coopersmith
    222 replies 1,944 retweets 5,252 likes
      1. New conversation
      2. Justin Wolfers‏Verified account @JustinWolfers 4 Apr 2019

        Also, and I think this is really really relevant: Herman Cain is a gold bug. "A gold standard is to the moochers and looters in government what sunlight and garlic are to vampires." https://www.wsj.com/articles/SB10001424052702304070304577395891113592150 …pic.twitter.com/ZZOIZq3zSx

        20 replies 95 retweets 268 likes
        Show this thread
      3. Justin Wolfers‏Verified account @JustinWolfers 4 Apr 2019

        One of two things are true: 1. Herman Cain's previous advocacy for a hard-money gold-standard approach to the Fed has miraculously given way to adovcating monetary stimulus when unemployment is below 4%. 2. He's not going to implement the policy preferences of President Trump.

        5 replies 53 retweets 171 likes
        Show this thread
      4. Justin Wolfers‏Verified account @JustinWolfers 4 Apr 2019

        Cain's main claim to monetary policy expertise is that he chaired the board of directors of the Kansas Fed. That sounds impressive, until you understand the reality. Regional Fed boards are usual local business bigwigs, who essentially do nothing.

        4 replies 108 retweets 299 likes
        Show this thread
      5. Justin Wolfers‏Verified account @JustinWolfers 4 Apr 2019

        Regional Fed boards don't run the banks, their Presidents do. They don't have a role in monetary policy; that's up to their president. The staff brief them on the economy, but really it's a courtesy to make them feel important. (The staff joke about this as an unenviable chore)

        3 replies 55 retweets 212 likes
        Show this thread
      6. Justin Wolfers‏Verified account @JustinWolfers 4 Apr 2019

        The one important thing that regional Fed boards do is appoint their regional Fed presidents, subject to the approval of the Board of Governors in DC. Cain was on the Kansas board from 1992-96, and Fed Presidents are appointed in years ending in 1 or 6, so he never did this.

        2 replies 42 retweets 137 likes
        Show this thread
      7. Justin Wolfers‏Verified account @JustinWolfers 4 Apr 2019

        The regional Fed boards really are just there to provide the veneer of democratic legitimacy to an institution that's not really that democratic. The board enjoy a free briefing from the regional bank staff, and the staff pretend to listen to the local bigwigs about the economy.pic.twitter.com/HeFf7VsiWl

        4 replies 36 retweets 145 likes
        Show this thread
      8. Justin Wolfers‏Verified account @JustinWolfers 4 Apr 2019

        So when you hear that Herman Cain was chairman of the Kansas City Fed, realize that it meant turning up for coffee and muffins every few weeks, but not actually deciding anything or knowing anything. It's more like a Rotary club meeting than anything to do with monetary policy.

        8 replies 145 retweets 338 likes
        Show this thread
      9. Justin Wolfers‏Verified account @JustinWolfers 4 Apr 2019

        There's nothing wrong with appointing business or labor leaders to the Fed; professional economists haven't earned a monopoly. But a history of extremist views or poor judgment should be disqualifying. Those are the terms on which we should assess Cain. Judge for yourself.

        5 replies 48 retweets 229 likes
        Show this thread
      10. Justin Wolfers‏Verified account @JustinWolfers 4 Apr 2019

        Cain's history of talking about the Fed is going to get awk... - Advocated gold standard - Claimed that monetary policy was too easy in early 2011 (when unemployment was 9%) - Argued that the Fed was overly-politicized at a time when it had no-one as partisan as Moore or Cain.pic.twitter.com/IihmZAAccC

        10 replies 67 retweets 195 likes
        Show this thread
      11. Justin Wolfers‏Verified account @JustinWolfers 4 Apr 2019

        A few folks have asked me how serious Herman Cain is about his gold-buggery, or whether this is just an aside to impress his tea party friends. He's serious enough that he wrote a whole darn book about it. And he kept advocating it even after the Republican primary.pic.twitter.com/X1ATawyrN5

        18 replies 55 retweets 156 likes
        Show this thread
      12. End of conversation

    Loading seems to be taking a while.

    Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.

      Promoted Tweet

      false

      • © 2021 Twitter
      • About
      • Help Center
      • Terms
      • Privacy policy
      • Cookies
      • Ads info