By JOHN TAMNY, Special to the Sun | March 27, 2019
In a 2008 speech then Federal Reserve Vice Chairman Donald Kohn informed his audience that "A model in the Phillips curve tradition remains at the core of how most academic researchers and policymakers -- including this one -- think about fluctuations in inflation." Translated, the entity (the Fed) that employs more economists than any other in the world is staffed near unanimously by economists who think too many people working and producing is the cause of inflation.
Karl Smith, Bloomberg
Michael R. Strain | Bloomberg Opinion
From the public reaction to Stephen Moore’s and Herman Cain’s potential nominations, it seems there are major concerns about whether Moore and Cain are sufficiently independent of partisan politics.
Editorial of The New York Sun | April 7, 2019
It's hard to recall from the journalistic pack such a panic as has erupted over news that President Trump intends to name Stephen Moore and Herman Cain to board of the Federal Reserve. The New York Times warns the Fed could end up under the presidential "thumb." A "hideous specter," says the Washington Post. "Sabotage" cries the Financial Times. They all bewail the Fed's independence.