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The Washington Post reported on the Democratic candidates’ proposals for changing the Federal Reserve. Clinton has recently announced “that the Fed needs to be more representative of America as a whole and that commonsense reforms — like getting bankers off the boards of regional Federal Reserve banks — are long overdue.” In a letter to Janet

Janet Yellen gave her semi-annual testimony before the Senate Banking Committee this week. In the Q&A time, Senator Pat Toomey criticized the Fed’s policy and suggested that it has only worked to “shift the timing of economic activity.” Tho Bishop briefly mentioned the exchange in his great post earlier this week, and I had to take a closer look.

In his new book Who Needs the Fed? , John Tamny makes a convincing case that the Federal Reserve is wholly unnecessary. Chapter after chapter, he offers examples of individuals engaging in credit transactions and explains how any government manipulation of these transactions is counterproductive or, at best, unnecessary. From sports to Silicon

Ever since the Fed paused their plans to increase the Federal Funds Rate, many commentators have guessed that the Fed might be expecting another crisis and downturn, and that any “brake tapping” might bring it about too soon. And while there is debate over whether or not zero is actually a lower bound for the central bank’s targeted Federal Funds