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Monetary policy

"Trust is our most important tool," says San Francisco Fed chief Mary Daly

by Kai Ryssdal and Sean McHenry
Oct 6, 2021
Mary Daly weighs in on inflation, the debt ceiling impasse and why public trust is essential for monetary policymakers at the central bank.
Mary Daly, president and CEO of the Federal Reserve Bank of San Francisco, with "Marketplace" host Kai Ryssdal. "If we don't have the people's trust, then nothing we do will matter," she said.
Sean McHenry/Marketplace
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Race and Economy

For Black workers, unemployment is 4 percentage points higher than for whites. Can the Federal Reserve fix that?

by Kai Ryssdal and Andie Corban
Sep 9, 2021
Wendy Edelberg, director of the Hamilton Project, says monetary policy has a roleay, but it's "not the whole show."
Fed Chair Jerome Powell. The central bank has been keeping interest rates low, but Wendy Edelberg says in the near future it should let the economy "grow on its own two feet."
Scott Olson/Getty Images
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COVID-19

"Monetary policy is the wrong tool": Why economist El-Erian thinks the Fed is making a mistake

by Kai Ryssdal and Andie Corban
Aug 30, 2021
The economist and businessman disagrees with Fed Chair Jerome Powell's belief that inflation is transitory.
"I am saying, 'You know what, we have to be more humble about the inflation dynamics,'" Mohamed El-Erian says.
Rob Kim/Getty Images
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COVID-19

Are we entering an era of higher inflation?

by Sabri Ben-Achour and Rose Conlon
Jul 15, 2021
Experts say global forces that helped keep inflation low for decades — like international trade and an expanding workforce — are dissipating.
Global trade and the worldwide labor force have restrained inflation, experts say, but key trends might be reversing.
Scott Olson/Getty Images
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What role does the Fed have in mitigating climate change?

by Andy Uhler
Jun 4, 2021
The Fed has to walk a fine line between mitigating disaster and shifting monetary policy to focus on fighting climate change.
Federal Reserve Board Jerome Powell testifies during a hearing on "The Semiannual Monetary Policy Report to the Congress."
Sarah Silbiger/Getty Images
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IMF upgrades its economic forecast, but the virus remains in control

by Sean McHenry
Jan 26, 2021
Chief economist Gita Gopinath explains why there's still a lot of uncertainty weighing on the global economy.
"We have a small upgrade of .3%," says IMF chief economist Gita Gopinath about the latest World Economic Outlook. "But there is tremendous uncertainty because we have a mutating virus. And we are in this race with vaccinations."
Brendan Smialowski/AFP via Getty Images
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If the Fed's nominees were confirmed, could they change monetary policy?

by Andy Uhler
Jul 28, 2020
The central bank's board of governors is designed with checks and balances, so one member's influence would be limited.
Judy Shelton, left, and Christopher Waller testify during a hearing on their nominations to the Federal Reserve board of governors in February.
Sarah Silbiger/Getty Images
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Trump Fed nominee advances in Senate despite support for gold standard

by Mitchell Hartman
Jul 21, 2020
Judy Shelton's unpopular view sheds light on why the U.S. and most other economies abandoned linking their currencies to gold
Once upon a time, gold was the currency of the United States.
Mario Tama/Getty Images
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Wall Street awaits Fed Chair Powell’s Friday speech for signs of further rate cuts

by Ben Bradford
Aug 22, 2019
The Fed’s annual Economic Policy Symposium is like the Academy Awards for a certain type of economist.
WASHINGTON, DC - JANUARY 30: Federal Reserve Board Chairman Jerome Powell pauses during a news conference after a Federal Open Market Committee meeting January 30, 2019 in Washington, DC. The Fed has decided to leave interest rates unchanged. (Photo by Alex Wong/Getty Images)
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The Federal Reserve

The long and twisting story of how Jay Powell became our next Federal Reserve chair

by Bridget Bodnar
Feb 5, 2018
Feuding congressmen, a formula to set monetary policy and the Swedes all played a part in this epic Twitter thread. We've set it to music.
Jerome Powell will be sworn in as chair of the Federal Reserve on Monday.
Drew Angerer/Getty Images
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