Audit the Fed?

This is not an ordinary election year in many ways. For one, it’s not really an election year – the actual voting doesn’t happen until 2016. It’s also going to be the first Presidential election without Obama since 2004 as the White House becomes open.

But more importantly, everyone seems to understand that the economy and the politics of this nation are both changing. Stuff is seriously up for grabs.  A desperate cry for attention might make all the difference.

Enter into this a bid for more Congressional oversight of the Federal Reserve, an idea backed by no less than 30 Senators, 3 of which are clearly running for President. It seems like a good idea all around – what can be wrong with more oversight? That depends on what’s being overlooked now, of course, and what can be done with existing law.

Plus, of course, we have the omnipresent Fed itself. Does it need to be reigned in?

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Chair(wo)man of the Fed

Who will succeed Ben Bernanke as Chairman of the Federal Reserve?  It’s come down to two people as far as anyone can tell, Larry Summers and Janet Yellen.  Or, sometimes more accurately, Larry Summers and not Larry Summers.   This is a terrible shame because no person has done more to earn the post than Yellen.

Yet Summers seems to remain Obama’s choice for the job despite growing opposition.   On the other side, support is growing in the popular press for Yellen as an opportunity to break the glass ceiling for women.  It’s heating up as a battle that Obama may avoid by picking a third candidate that no one is concentrating on now, but the loss would be terrible if Yellen doesn’t get the nod.  Here’s why.

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