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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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