Thoughts on the Federal Reserve
20 years ago I looked at a map of the regional Federal Reserve Banks and I thought: Why do we have banks in Richmond, Philadelphia and New York? Cleveland and Chicago? St. Louis and Kansas City? Why does the San Francisco bank handle everything west of Denver? ...Republicans Try To Make Things Right – Not So Much
What a day. I’m sorry, but politically, not one that I’m proud of: 1) Alphonso Jackson resigns as HUD secretary (effective April 18). Few doubt there is something to allegations of favoritism. See my previous posting on the temptations of power. 2) Henry...New Fed Powers Plan Needs Careful Thought
Let Friday, early news about a plan to broadly expand the power of the Federal Reserve was released. Evidently the plan will be formally announced in a speech by Treasury Secretary Paulson. I’m a bit out of breath. McGehee was the first I saw to make mention...Stay in Touch
