Sen. Elizabeth Warren (D-Mass.) blamed Federal Reserve Inspector General (IG) Mark Bialek for a lack of “competent oversight” during a Wednesday hearing while discussing the issue of potential insider trading by Fed officials. During a Senate Banking Subcommittee on Economic Policy hearing, Warren questioned Bialek about suspicious trades involving Federal Reserve Chair Jerome Powell and former Vice Chair…
‘Perceived Gaps’ in Investigations on Fed Chair Powell’s Alleged Insider Trading: Sen. Warren
Powell Is Repeating Burns’ Mistake
Commentary The recent loss of control of inflation and worry about potential stagflation ahead is to a very large extent repeating the history of the 1970s, a period that is worth serious study to learn the lesson. The appointment of Arthur Frank Burns as a new Fed chair to replace William McChesney Martin, a hawker…
The First Truly Independent Fed Chair
July 6, 2022
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Business & MarketsChinadeflationDwight Eisenhowereconomic policiesFed chairFederal ReserveFranklin Rooseveltharry trumanHK BusinessHong KonginflationJohn KennedyLyndon JohnsonOpinionTreasury DepartmentVietnam WarWhite HouseWorld War II
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Commentary The independence of the Federal Reserve was never granted; rather, it was fought for. Although the first chairman of the Federal Reserve “System” Marriner Stoddard Eccles failed to fight for independence, his effort after demotion (from chairman to normal committee member) did reward his successors. Another long-sitting successor after him was William McChesney Martin…
Market Pulse: Fed’s Hawkish Tilt, Firming Dollar, and Fluctuating Oil Prices
March 22, 2022
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Business & Economyeconomic policieseconomyFed chairFederal Reserve bankjerome powellMarketsOil priceRussia-Ukraine WarUSUS News
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The U.S. dollar has strengthened and the benchmark 10-year Treasury yield touched its highest level in 3 years following hawkish remarks by the Federal Reserve chair, while oil prices remained volatile after briefly extending gains as Europe mulls sanctioning Russian energy imports. Federal Reserve Chair Jerome Powell said at a National Association for Business Economics…
The Fed Is Trapped
Commentary While the world is focused on the situation between Russia and Ukraine, the global economy is already rapidly slowing down. Further uncertainty due to geopolitics and war could easily tip the global economy into a recession. For the Fed, the Russia and Ukraine conflict could not come at a worse time as it is…
Fed is Focused on Fighting Inflation: Lael Brainard at Senate Confirmation Hearing
January 14, 2022
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Business & Economyeconomic policieseconomyFed chairFederal ReserveinflationLael Brainardsenate committee hearingUSUS News
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Federal Reserve governor Lael Brainard has confirmed to Congress that fighting inflation was the organization’s “most important task,” marking a pivot from last year when she didn’t want the central bank to cut down on stimulus plans. Brainard, 59, was the top contender for the position of Fed Chair, but President Biden renominated Jerome Powell,…
Fed Chair Defends Current Policy, Says He Thinks About Inflation ‘Night and Day’
WASHINGTON—Federal Reserve Chair Jerome Powell on July 15 expressed concerns about inflation, stating that he and his colleagues are thinking about rising prices “night and day.” Powell, however, said during a Senate Banking Committee hearing that the Fed’s easy monetary policy will continue as the jobs market recovery “is still a ways off.” Powell’s testimony…
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