| The Fed Transformed. What will the new Federal Reserve under Janet Yellen look like? Several important personnel changes besides Yellen are going on at the same time as major regulatory policies are finally put in place under Dodd-Frank, plus a series of ever higher profile, but still insufficient, bank investigations by the Justice Department. Yellen must implement true reform as the TBTF banks have only gotten larger and more systemically dangerous since the crisis, while small banks are failing in record numbers, and the real economy is in recession everywhere but on Wall Street. Can the first woman Fed chair, and a "labor economist" pull it all off at the contentious Fed, while also committing to the transparency begun under Bernanke? Or will there even be time before world events overtake the central bank system & make it irrelevant? |
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At prospect.org
At prospect.org
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