Influential Regional Fed President Concedes Need for Monetary Action Against Unemployment

By: Friday September 21, 2012 6:45 am

I don’t know whether this is a positive sign about policymakers recognizing the depth of our economic problems, or a negative sign about the depth of our economic problems. But the President of the Minneapolis Federal Reserve, Narayana Kocherlakota, set a target unemployment rate he would like to see before the Fed raises the federal funds rate from its current position at 0%. This is seen as a shift for Kocherlakota, who had a far greater fear about inflation in the past.

 

Movement to Tax Banks Regains Momentum

By: Thursday July 8, 2010 8:21 am

Much like how the health care debate coincided with a last-minute failure on Medicare buy-in, the financial reform debate coincided with a last-minute failure on taxing the banks. In both cases, reformers and advocates haven’t given up on the idea. In the case of the bank tax, those reformers picked up a powerful champion.

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