US EditionThe Fed Needs Economists Who Aren’t Politicians
6 Articles
6 Articles
After an unexpected resignation from the Board of Directors of the Federal Reserve, President Trump proposed a transitional solution.
Reading time approx.: 1 minutes, 43 secondsThe official, whose appointment as governor of the Fed is only a procedure, has argued that the famous independence of the central bank has made it an irresponsible and ineffective institution, while "a new system" in which the presidents will be able to fire the seven members of the Board of Governors at will would be the best.
The appointment of Donald Trump's economic advisor as governor in the U.S. Federal Reserve could further destabilize the institution, under pressure from the president to lower rates.
The Fed Needs Economists Who Aren’t Politicians: Robert Burgess
Which Stephen Miran will show up to the Federal Reserve’s monetary policy meeting in mid-September as a freshly appointed governor of the world’s most important financial institution? The version who toiled away in relative obscurity after graduating from Harvard University in 2010 with a PhD in economics, writing papers about things like how supply-side reforms and deregulation can spur American industry? Or the version who has advocated for gi…
With that appointment, the US president could increase his influence in the committee that sets interest rates
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- 50% of the sources lean Left, 50% of the sources are Center
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