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“Lawmakers seek to change Fed mission”
“Two influential Republican lawmakers called Tuesday for a fundamental remaking of the Federal Reserve’s mission, arguing that the central bank should stop trying to reduce unemployment and instead focus solely on keeping inflation low. The proposal by Sen. Bob Corker (Tenn.) and Rep. Mike Pence (Ind.) would end the three-decade-old “dual mandate” of the Fed, […]
READ MORE“Fresh Attacks on Fed Move”
“A group of prominent Republican-leaning economists, coordinating with Republican lawmakers and political strategists, is launching a campaign this week calling on Fed Chairman Ben Bernanke to drop his plan to buy $600 billion in additional U.S. Treasury bonds. “The planned asset purchases risk currency debasement and inflation, and we do not think they will achieve […]
READ MORE“Fed’s Plosser Says Understanding Crisis May Take 50 Years”
““It will be at least 50 years before we really understand very well what happened in 2008-2009, and we will be interpreting for another 50 years as to whether the Federal Reserve undertook the right policies or the wrong policies,” Plosser said today during an audience discussion at a Fed conference in Jekyll Island, Georgia. […]
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