The Fed's Dilemma: A Tale of Two Economists The Federal Reserve has long been a source of controversy, but the latest dispute between two of its officials highlights a fundamental issue: the inherent flaws in central planning.
Kevin Warsh and Christopher Waller may seem like unlikely allies given their differing views on expert involvement in monetary policy, yet they share a common failing – an inability to acknowledge the Fed's underlying problem.
Warsh proposes establishing task forces composed of outside experts to examine the Fed's economic outlook and communication strategy.