September 27, 2024 — Jimmy Carter turns 100 on October 1. His presidency has always been underestimated. A few of his accomplishments, like the Camp David Accords, are well-known. But his legacy has been hurt by misperception of some specific developments of those years, 1977-1981. This is particularly true when viewed in light of new information that did not come out until more recently.
Consider policy in three areas: (1) deregulation, (2) inflation, and (3) the Iranian hostage crisis.
Some conservatives are attacking current U.S. monetary policy as being too expansionary, as likely to lead to excessive inflation and debauchment of the currency. The Weekly Standard is promoting a letter to Fed Chairman Ben Bernanke that urges a reversal of its policy of QE2, its new round of monetary easing. The letter is signed by a list of conservatives, most of whom are well-known Republican economists, some associated with political candidates. Apparently the driving force is David Malpass, who was an official in the Reagan Treasury, and he is taking out newspaper ads later this week. This follows similar attacks on the Fed by politicians Sarah Palin, Mike Pence, and Paul Ryan.