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Showing posts with the label Chairman Powell

The Economic and Social Cost of Racism

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At a February 27, 2019 Financial Services Committee hearing on Monetary Policy, Rep. Al Green (TX) asked the following question of the hearing's only witness - Chairman of the Board of Governors of the Federal Reserve System (the Fed), Jerome Powell:
"I want you to do a study on the impact discrimination has on the economy." ( See video at https://www.c-span.org/video/?458249-2/federal-reserve-chair-powell-testifies-day-capitol-hill&start=2499#)

We attended the hearing (https://twisri.blogspot.com/2019/03/monetary-policy-and-state-of-economy.html), and were delighted to hear the question, which, in light of events in New Zealand,  takes on new significance. Clearly, the economic and social cost of discrimination is growing worldwide, inspired by events in the US. This adds instability to the culture and, eventually, the  marketplace. This makes getting an accurate answer to Mr. Green's question critical.
It is unclear that Federal Reserve economists can accurat…

Monetary Policy and the State of the Economy

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Impact Investing