Visit The Boston Globe Share on Twitter Share on Facebook Comment on this Scroll to top of page April 03, 2019 Amid a presidency filled with unqualified appointees, President Trump’s picks for the Federal Reserve used to stand out as rare exceptions. Sure, Trump might have put people like Ben Carson in charge of cabinet departments, despite lacking any relevant experience, but at least the Fed got serious officials with a real commitment to the central bank’s mission. His pick as chair, Jerome Powell, exemplified the bank’s tradition, and has proved his willingness to safeguard the Fed’s independence from political pressure.Now, with the nomination of right-wing pundit Stephen Moore to be one of the seven members of the Fed’s board of governors, even that enclave of competence and nonpartisanship is at risk. The bank’s vital role — it sets interest rates, aiming for low inflation and high employment — is too important … [Read more...] about Editorial: Stephen Moore is the wrong man for the Federal Reserve
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opinion Andy Puzder Opinion contributor Published 5:57 PM EDT Apr 1, 2019 The liberal outrage triggered by Stephen Moore can only mean one thing: He is exactly the type of “growth hawk” we need at the Federal Reserve. Moore — whom President Donald Trump intends to nominate to the Federal Reserve Board — is an ideal choice to help secure our recent economic gains with monetary policies that complement the president’s fiscal policy. “I consider myself a growth hawk,” Moore said recently. “I ... will try to make sure that America grows as fast as it can, and that wages rise and that we have a long period of prosperity through a sound monetary policy.” Moore has been critical of the Fed, but many of his tough observations about the Fed have also been highly accurate. The Wall Street Journal, for instance, stressed that he “has certainly been proven right in his warning last autumn that the Fed was tightening policy too … [Read more...] about At Federal Reserve: President Trump needs ‘growth hawk’ Stephen Moore
Raphael Bostic Raphael Bostic Photo by Contributed Photo /Times Free Press. The growth rate in the U.S. economy may be slowing, but the head of the Federal Reserve Bank of Atlanta said today he expects "another year of solid growth" in 2019 and no signs yet of an economic recession any time soon. Raphael Bostic, CEO of the Atlanta Fed and one of the 12 governors who sits on the Federal Open Markets Committee that help set U.S. interest rates, told the Chattanooga Area Chamber of Commerce today that the U.S. economy should grow this year at a slower pace that in 2018 "as the temporary as the temporary effects from fiscal stimulus and tax reform begin to fade." Next year, the pace of the recovery is likely to slow still farther to below 2 percent by the end of 2020, but Bostic is not forecasting any recession in the near term. "It is important to stress that this lower pace of growth does not show fundamental pessimism about the economy," he said. "Rather, it mostly … [Read more...] about Economic growth ‘solid’ but slowing in new year, Atlanta’s Federal Reserve president says
Business Federal Reserve Donald Trump Janet Yellin Jerome Powell When it comes to the Federal Reserve, President Donald Trump has been all over the map. He’s alternately praised and attacked its leader, Janet Yellin. During the 2016 campaign, he labeled her a stooge of President Barack Obama who he said was keeping interest rates and the economy humming just to get Hillary Clinton elected. “The Fed has become very political,” Trump said. “Beyond anything, I would have ever thought possible.” (More often than not, though, he said the economy was in a ditch—one time he even said unemployment was 42 percent.) “Janet Yellen is highly political and she’s not raising rates for a very specific reason, because Obama told her not to, because he wants to be out playing golf in a year from now and he wants to be doing other things and he doesn’t want to see a big bubble burst during his administration.” Last week, he was … [Read more...] about Who Is Jerome Powell, Trump’s Likely Pick to Chair the Federal Reserve?
Federal Reserve Bank of Boston President Eric Rosengren spoke with Wall Street Journal reporters and editors in Washington on Wednesday, June 27, 2018. He discussed his outlook on employment, inflation and the prospect of additional interest-rate increases this year, and his concerns about international trade disputes creating risks to the outlook. Here is a partial transcript of the interview, lightly edited for clarity and length.... … [Read more...] about Federal Reserve’s Eric Rosengren Discusses Economic Outlook and Risks