It would be better if Fed officials avoid making new investm...
It would be better if Fed officials avoid making new investments in individual stocks and avoid active trading in stocks and bonds. It’s important to appear impartial, free from conflicts of interests, and fully focused on serving the public.
The stock trading is a symptom of a broader lack of accountability, a progressive research group in Washington that has been pushing for policies emphasizing full employment.
Reserve banks are outside the normal channels of democratic accountability that we expect our public policy makers to be tethered to. There is good work happening at many reserve banks but I think it would be better for the system if the reserve bank presidents were advising and not actually making policy for the Federal Reserve.
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kat kukuuu : Kaplan is a member of the voting committee in 2020, but has no voting rights this year.