Archive for April 18th, 2011

The Fed as the U.S. Economy’s New Central Planner »

The Federal Reserve emerged from the financial crisis of 2007–2009 with new powers to allocate credit to specific firms, including non-bank institutions. This development in effect makes the central bank the U.S. economy’s central planner. But why did Fed Chairman Ben Bernanke lobby for the new lending powers, rather than rely on the Fed’s…
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