Congressman Jeb Hensarling, chairman of the House Financial Services Committee, mentions Hayek’s Fatal Conceit regarding the Fed bureaucracy’s ability to manage money and interest rates.
Reporter responds by asking how much confidence do you have -- “are they (central bankers) the right people to be doing this...I don’t even know what to think anymore at this point.”
After admitting the Fed has created asset bubble that are beginning to pop, Hensarling admits that he does not have faith in the Fed.
