“The Federal Reserve is an agency created by, controlled by, and accountable to Congress.” | EUROtoday

A determine within the heterodox American economic system, James Ok. Galbraith, professor on the University of Texas, deciphers the battle between Donald Trump and the Federal Reserve (Fed) and offers his evaluation of the present state of the United States economic system. He performed a task in drafting the establishment’s statute: in 1978, as a younger economist on the banking committee of the House of Representatives, he wrote the article which, within the Humphrey-Hawkins Act, required common hearings of the Fed earlier than Congress. Since then, they’ve taken place often. Author of The predatory state (Seuil, 2009) andInequality. What everybody must know (Seuil, 2019), he has simply printed, with Jing Chen, Entropy Economics. The Living Basis of Value and Production (“Economics of Entropy: Basis of Value and Production”, University of Chicago Press, 2025, untranslated).

Is the White House’s strain on the Fed to decrease rates of interest utterly misplaced?

You have 90.98% of this text left to learn. The relaxation is reserved for subscribers.