Fed Work News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Fed chairman. powell has fought back and said it is our independence from political pressure that makes the fed work. but what do you make of this, the president taking him on like this, i made you? >> the federal reserve chairman is the second or third most powerful person in washington and in the world. it's his appointment you have to stand up for your own appointees. the essence is for most of our early history to the beginning of the 20th century, congress controlled the money supply, right? and private banks did that. what it led to is 100 years of boom and bust. >> hyper inflation. >> i...

Different in the coming yore. we have the same people. so far, i'm afraid, the same motivations, and so i'm not sure that we'll be able to pass this. what i would like to do is to get my colleagues to focus not on what they call the moral lassitude of these people who are unemployed, but look at the economy overall. how do we benefit the economy? keeping the unemployment benefits rolling benefits the economy. it helps not just those people and not just those family, but the economy at large and we shouldn't forget that, but this past congress, the last 12 months. >> right. ? and i fear the nex...

What's different now than we've had in the last decade or 15 years is that now in this recession the unemployment is long, 6 month, 12 month, 18 months and that becomes damaging not just to the individual psyche and not just to the family structure, but it hurts society and it's economically bad. and so, you know, when my colleagues in congress say well, we'll have to cut these off, these people are just going have to go back to work. they forget this is not by choice. these people are victims. >> the number of people abusing this are is small. >> you until this is a bipartisan solution. you c...

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