Kudos to the Fed

Chicago Booth finance expert (and all-around free-market kind of guy) John Cochrane has a great WSJ piece on how and why the Federal Reserve Board has made the right call on a set of very big decisions.  If you happen to run into a politician ranting against the Fed, I strongly encourage you to ask him/her how he/she disagrees with Cochrane, a world-class finance expert who expresses his views on his well-read blog Grumpy Economist.  My guess is that you will not get a straight answer.