Sunday, September 6, 2009
Will the Fed Play Politics?
Abstract: The article discusses the U.S. Federal Reserve Board, and its efforts to mitigate the global financial crisis that began in 2008. An argument is presented that Ben Bernanke, the board's chairman, will have to stop increasing the flow of money into the economy in order to avoid inflation. Topics addressed include interest rates and unemployment rates.
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It is always interesting to look at the interplay between economic policy and popular opinion. Policies take a long time to fully take effect, but the public is never patient; they expect a quick fix, which often leads to more problems down the road. Obama's team is under a lot of pressure to deliver on campaign promises, so I think it will be interesting to see how they stand up to political pressure.
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