Economist Judy Shelton had a crackerjack column in last week s Wall Street Journal on the lack of intellectual and policy diversity at the Federal Reserve. She points out that during the entire term of Chairman Jerome Powell and his predecessor, Janet Yellen,
not a single dissenting vote was recorded among the governors. It reminds us of the central bank of the Soviet Union.
Is that what we want - GosFed? That’s our jibe, not Ms. Shelton’s.
It’s a play on Gosbank, for Gosudarstvenny Bank, the name of the Soviet central bank. It’s not our intention to suggest that our Fed or anyone associated with it is a communist. All the more mystifying, though, is the absence of dissent among GosFed governors, particularly when a new administration is readying vast new spending.
American Heart Association
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May 11, 2021 – Senators Bernie Sanders and Kirsten Gillibrand and Representatives Ilhan Omar and Gwen Moore yesterday introduced the Universal School Meals Program Act, legislation to provide universal meals for all children enrolled in school. This bill would provide free breakfast and lunch to students regardless of their family’s income level, negating the need to apply or verify eligibility for school food programs and making it easier for programs to continue to feed children throughout the year.
The American Heart Association, the world’s leading voluntary organization focused on heart and brain health, issued the following statement in support of the bill:
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Economist Judy Shelton has a crackerjack column in tomorrow s Wall Street Journal on the lack of intellectual and policy diversity at the Federal Reserve. She points out that during the entire term of Chairman Jerome Powell and his predecessor, Janet