The Federal Reserve’s response to the current fiscal crisis raises grave questions about its independence and judgment. It is time for Congress to launch formal hearings into the governance of the Fed.
Thomas Palley
Thomas Palley was formerly chief economist of the U.S.-China Economic and Security Review Commission. Prior to joining the Commission, he was director of the Open Society Institute’s Globalization Reform Project, and before that assistant director of public policy at the AFL-CIO. He is the author of Plenty of Nothing: The Downsizing of the American Dream and the Case for Structural Keynesianism (Princeton University Press) and Post Keynesian Economics (Macmillan Press).
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Chairman Greenspan Wants Your Job
F or the past year and a half, the stewards of the American economy have been worrying that too many Americans are drawing regular paychecks. The fear is never quite put that way, of course, but as the national unemployment rate has dropped to 4 percent, the Federal Reserve has been getting restive. Six times […]
