But, as a former colleague put it, Mr. Lindsey is hard to stereotype. At the Federal Reserve , he was more hawkish on inflation than Alan Greenspan. Throughout the campaign, Lindsey stressed that the Bush tax package was incremental, had been passed on by the Fed Chairman, and would not be inflationary. And to be fair, the case for cutting taxes is better than it has been in a long time. The U.S. economy is slowing, and the budget surplus is soaring.
Competition emerges, driving down prices.
Anyone who owns tech stocks would have done well to heed that warning a year or so ago. But Mr. Lindsey was bearish going back to 1998, saying he'd sold his stocks so he could sleep better. That is not to say that Mr. Lindsey is a gloomy Cassandra. In person, he is unfailingly polite, cheerful and unpretentious. Those are qualities that must appeal greatly to a man from Midland, Texas.