Congress can help the Fed…

President-elect Donald Trump noted that “we have a very false economy,” due to the Fed “keeping the rates down.”  He is right.

Yet, the question remains how to exit from this policy while avoiding catastrophe in the bond market and building a safer monetary policy framework for the future.

The Fed needs to integrate state and bank money into the policy discourse, including its own reports to Congress and the public.

Here, Congress can help.

For full remarks:
http://centerforfinancialstability.org/oped/Fed_120616.pdf

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