Wake Forest University professor Sherry Jarrell waited patiently and got through to be featured on Tuesday’s Rush Limbaugh program. In her capacity as an economist, she called the program to weigh in on Federal Reserve monetary policy, inflation and deflation. Limbaugh was impressed enough to keep her on the line for more conversation after cutting to a commercial break!
While many economists are concerned about inflation, Jarrell called into the program to point out that the Fed's purchase of bonds did not necessarily increase the money supply. Rather, she believes the Fed has a false sense of confidence that it can control inflation and that its policies are being guided by Fed Chairman Ben Bernanke's excessive fear of deflation.
Jarrell said via email that the program had received a number of emails urging Limbaugh to have her back on at a future date. The conversation was featured on the front page of Limbaugh’s website, where a transcript is also available. Another way to access the talk is through Jarrell’s own website, www.sherryjarrell.com.