Insight from Janet Yellen's most-trusted advisor

[thenews]

George Akerlof offers hints of where he stands George Akerlof is a nobel prize winning economist but he's better known now as Janet Yellen's husband.

He rarely weighs in on what needs to be done in central banking but he spoke with the Globe & Mail about his book Phishing for Phools: The Economics of Manipulation and Deception.

There isn't much to take away but the general thrust is that he's on a behavioural economics kick. Much like Edward Greenspan, he's realized that people aren't rational decision making agents. His takeaway is that governments need to do more to regulate behaviour. He also comes across as compassionate, much like his dovish wife.

None of it adds much insight into the Fed but it's a good introduction if you don't know Akerlof or what economic academia is currently fixated on.