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by Elizabeth Nolan Brown
Reason.com
Biden claims dead economists love his jobs plan. The past five leaders of the Federal Reserve have come out in support of President Joe Biden’s American Jobs Plan, the president told reporters at the White House last week. “What’d they say? They said, ‘Biden’s plan is going to grow the economy,'” Biden claimed.
That’s not true. In fact, two of the five chairs before incumbent Jerome Powell—G. William Miller and Paul Volcker—are now dead.
Two of the three living previous Fed chairs—Alan Greenspan and Ben Bernanke—have been quiet or vague about the $2.3 trillion spending proposal Biden has put forth in the name of “infrastructure” and “jobs.” Greenspan’s only comments on it seem to be about infrastructure spending generally, and I can find no comments from Bernanke.
Only former Chair Janet Yellen, who is now Biden’s treasury secretary, has really been promoting it.
So what the heck was Biden talking about?