The Fed has risen too far above political control
The problem with the Fed is that the need for stability — and for avoiding market shocks — cuts across the desire to exert more democratic control over the central bank.
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The problem with the Fed is that the need for stability — and for avoiding market shocks — cuts across the desire to exert more democratic control over the central bank.
Less than six months into his term, it is probably too early to speculate what President Joe Biden’s legacy will be. Yet in some ways, Biden’s economic policy is already no less audacious than those of presidential heavyweights such as FDR, Lyndon B. Johnson, and Ronald Reagan.
One could ask the question: how did the financial system got us into such a mess? First one has to look at the value of anything and nothing… On average:
Democrats are considering using TARP funds for a new purpose which is to bail out homeowners. Rep. Maxine Waters (D- Calif.) pushed a proposal that would channel $3 billion towards a mortgage relief for jobless home-owners. These funds would be taken out from the ‘Troubled Assets Relief Program (... Read More... Don't Miss Any Updates! News Directly in Your Inbox Subscribe to: