The Federal Reserve Bank (Fed) has proposed a plan to regulate the pay of bank employees by allowing the Fed to reject compensation schemes it views would encourage excessively risky behavior. Regardless of whether one thinks bankers’ compensation should be regulated, the Fed should not be doing this. The Fed’s major responsibility is controlling...
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Using data just released from the Bureau of Economic Analysis, Cato’s Chris Edwards has built this chart vividly illustrating the upshot of America’s love affair with big government under Bush and continuing under Obama—average federal compensation is now more than double the average in the private sector: Meanwhile, the trend of government jobs increasing...
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