Working Life

It might look these events are completely unrelated but there is a tie between the extortion underway of Argentina courtesy of a hedge fund, on the one hand, versus the cluelessness at the Federal Reserve Board about what is actually happening to real people.

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You finally got the keys to the executive suite, Janet Yellin. And, oh, about that easy money…wadda ya gonna do to avoid a nightmare?

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No doubt about it — this Administration has a “boys club” at the highest level. And, if people feel so insistent that appointing Janet Yellen to head the Federal Reserve Board will be important to righting that balance, by all means, pick her. But, do not mistake that calculation with making a choice in policy differences.

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Robert Rubin is like that turd that just won’t flush away. You know, no matter how many time you keep pressing the lever, it sticks around. That’s Robert Rubin. And here he is again, swirling around the toilet bowl of corrupt politics, of financial elite arrogance, mouthing off when, in a just world, he’d either be in jail, without a job or, at least, irrelevant.

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The absurdity of the debate about who should be the next chairman of the Federal Reserve Board is NOT in the debate about Larry Summers versus Janet Yellin. Nope. It’s in the questions not being asked.

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You may have been checking out all the ruckus in the stock market just after the Fed decided to end its bond-buying program to prop up the economy. The strategy of the Fed was simple: try to keep things from really collapsing. But, the mindset before and after this program is really telling about what they don’t get.

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That elites and the transcribers of press releases (formerly known as “journalists”) don’t understand what is happening to most working people is never more apparent when discussing the Federal Reserve Board, and the basic abandonment of the idea of full employment.

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   What has been extraordinary to watch over the past 30-40 years is the way in which, when economic crisis strikes, the political and economic leadership of the country leaps into the breach to lend a hand–not to the regular people who suffered the most but, rather, to the very institutions and economic elites who […]

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   Well, it’s nice to know that even the Federal Reserve can hear: The Federal Reserve will meet on Tuesday faced with a pivotal decision about whether to abandon its presumption that the economy is gradually picking up steam and begin to consider new steps to keep the recovery from sputtering out.    That easily […]

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   Nothing changes: As the House and Senate move to finalize regulatory-overhaul legislation, the Federal Reserve has emerged as likely to retain most of the power and independence Fed officials have feared they might lose.  

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