RSS Feed
Twitter
Facebook
Email
HomeFederal Reserve Minutes Reveal “Ignorance”
Posted by Larry Doyle on February 24th, 2014 6:36 AM |
I know of few descriptive terms more harsh than classifying an individual or organization as being ignorant.
Yet that is exactly how The New York Times labels the most powerful institution in the world, that being the Federal Reserve, after reviewing the recently released minutes from the Fed’s meetings back in 2008.
The hundreds of pages of transcripts, based on recordings made at the time, reveal the ignorance of Fed officials about economic conditions during the climactic months of the financial crisis.
Serving as a Fed official is not a part time role akin to committing one’s time for a local civic organization. In fact, perhaps not fully appreciated by many in our nation, the Federal Reserve not only serves as our nation’s monetary authority but also as a primary regulator for our banking system. (more…)
