He’s a professor of economics and public affairs at Princeton University and President Obama’s choice to lead the White House Council of Economic Advisers. “I have nothing but confidence in Alan as he takes on this important role as one of the leaders of my economic team,” the President said yesterday when he announced Krueger’s appointment. “I rely on the Council of Economic Advisers to provide unvarnished analysis and recommendations, not based on politics, not based on narrow interests, but based on the best evidence — based on what’s going to do the most good for the most people in this country.”
Daily Archives: August 30, 2011
Bubble Risk Is A Two-Way Street
Market bubbles are dangerous when they burst, but they’re no picnic for investors who make ill-timed bets that the party’s over. Just ask Pimco’s Bill Gross, manager of the Total Return Fund, the planet’s biggest bond fund. In February, he sold all the Treasuries in the fund and compounded the bet with derivatives. He now admits that it was a “mistake,” via The Wall Street Journal.