Word: hubbardism
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...Hubbard became renowned for his academic orthodoxy, his advocacy of tax cuts, and his loyalty to the administration...
...Hubbard promoted abolishing taxes on capital investment—effectively creating a tax system centering on consumption instead of on savings and investment...
...While Hubbard declined to be interviewed for this profile, his colleagues and friends say he would likely continue the Fed’s commitment to low inflation while bringing a leadership style marked by loyalty...
...helm during the Sept. 11 terrorist attacks and the economic recession, Hubbard also gained a reputation for his loyalty to the president. When Bush dismissed his first Treasury secretary and his top economic adviser early in his first term, Hubbard was kept on board...
...Hubbard praised the Federal Reserve’s recent performance—its “commitment to price stability” and it “remarkable job in cutting the inflation tax on investment”—in a column he wrote for Business Week in January...