Bill Foster: “I believe that is really an essential government job.”

While the Presidency is often the focus of political pronouncements about macroeconomic conditions, there is no question that it undersells the importance and the independence of the work of the Federal Reserve Board.

Do you remember with AIG, the real problem with AIG falling into bankruptcy is that it would immediately put a bazillion of the European banks into violation of their capital requirements, which was major contagion that----

The good news is that macroeconomic policy is working as designed.

I have been amused for a long time at how can it be that there is legislation supported by 70 or 80 percent of the public, a clear majority of Members of Congress, and yet we are not allowed to even vote on it.