One of the things that came out of the meeting I was at on Saturday with the UC economists (including Tyson and Yellen) was a "manifesto" that they published today (I'll have the final to distribute soon). They're having a press conference in about 10 minutes at Berkeley. In anticipation, they're quoted in a story in today's LA Times (that features Greenspan's comments) and they focus their quotes on the need to raise rates. Most of these folks in the group, lamentably, earn their living by consulting for incumbents, but there message here should be helpful, and there are a few "right-minded" economists in the bunch. (I managed to get Dr. Michaels in the group, who was a great voice of reason in the debate over what to say in the manifesto.) It wasn't appropriate for me to play a visible role in the design of the manifesto, though I attempted to offer some behind the scenes suggestions. Jeff
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UC Economists (and others) Step Out a Bit in California