Page 11 - Patrick Kehoe News Today : Breaking News, Live Updates & Top Stories | Vimarsana

something starts to happen? >> the answer is yes, in some regards, addresses miss maloney's question. under a single mandate, focused on the purchase power of the dollar, could the fed intervene? in times of mercy? the answer is yes. they would still be the lender of last resort and provide liquidity to those banks and still have liquidity problem but are solvent and ability to increase or decrease interest rates to tighten or loosen money supply. they would still in a single mandate have the ability to intervene in unusual and exigent situations. what they would not be allowed to do...

decisions. with there being open seats, half the vote is cast by people and we did a check, who are the members of the boards. it's a kind of closed system. the board members are selected with great input from the president. they in turn pick the regional president and it is private sector governance of an perhaps part of what we do. i am not talking about what they do in their regions and academic activity. the bill says they should not vote on monetary policy. i just don't understand what the rationale is for letting private sector people with the financial industry generally not i...