Understanding the Terms of the Board of Governors of the Fed
Posted on January 28, 2009 - Filed Under Central Banks | Leave a Comment
The Federal Reserve System is a complex organization, comprised of twelve regional Feds and a Federal Reserve Board in Washington, DC. In this article I describe the terms of the Board of Governors, the group that sets Fed policy (I have written elsewhere on the structure of the Fed).
The current structure of the Board of [...]
Understanding Employment (or Obama and the 2.5 or 3 or 4 or [update] 3.5 million jobs)
Posted on January 11, 2009 - Filed Under Economy | Leave a Comment
President-elect Obama’s economic team says that he was developing a plan that “would save or create nearly four million jobs”. Four million jobs is a large number; this essay will try to explain how large. (Note: earlier, Obama said his plan would “save or create at least two and a half million jobs”; later Obama [...]
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