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May 3, 2016

Why Aren't Presidential Candidates Talking About the Federal Reserve?

This is not an esoteric conversation for economists and policy wonks. This is the bread and butter that workers will see on the table over the next several years. It is a bit bizarre that the Fed is openly debating whether it should raise interest rates to slow the pace of job creation and dampen wage growth even as candidates are running around the country promising to do the opposite. It seems reasonable to expect that candidates for president would tell the public about their attitude toward the Fed and in particular what sort of person they would appoint to be governors. There are already two vacant positions on the seven-member board of governors. In addition, Janet Yellen will come up for reappointment in the first year of the next president’s term. Pretending the Fed does not exist is not serious economic policy.

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