After weeks of mulling, Biden decided to give Powell another term as Fed chair, which means he will have more influence over the trajectory of inflation than anyone else.
Central bankers are expected to discuss the racial income and wealth gaps during the virtual Jackson Hole retreat. But an economist argues that the Fed is not suited for addressing these issues.
Central banking was given to technocrats whose job is to make the difficult decisions. But there are parameters. And within these, central bankers must act independently, without fear or favour.
Unconventional policies can be used to alleviate — instead of exacerbate — inequality, something Canadians are clamouring for. The Bank of Canada needs to rediscover its former innovation zeal.
Massive stimulus plans combined with rising production costs could lead to expectations that inflation will rise. And that alone could trigger an inflationary spiral not seen in 25 years.
While Trump’s nominee to join the Fed favors returning to the gold standard, an economist explains why the US and the rest of the world abandoned it in the first place.
In the 1860’s, the Supreme Court was a ‘partisan creature’ and President Lincoln and the Republican Party remade it so that it reflected the party’s priorities.
The economic status of Black Americans hasn’t changed since the Fed was handed its mandate in 1977. Could targeting Black unemployment, encouraging credit and reporting discrepancies narrow the gap?
Distinguished Professor and Derek Schrier and Cecily Cameron Chair in Development Economics, School of Economics and Business Sciences, University of the Witwatersrand