Grown-up substantive discussions with the Congress about which theories the Fed is supplying, what the alternatives are, who the winners and losers may be, and what the implications for political economy and political finance are, just as the CHOICE Act suggests, would be a big step forward in the accountability of the Federal Reserve.
Foster advocates for more accountability and discussion regarding the Federal Reserve's theories and policies.
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If you conclude, as you are actively studying it, that you need more visibility into certain areas of, particularly nonbank things that may be parts of the chain of contagion, please let us know, because it is our job to avoid the next…
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.
I think it is my personal goal to die before we have another financial crisis, and then I will be doing my job well.
I guess when things are going well, as they currently are, it is all of our duties to look around the curve and see the risks that keep you up at night.
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