The Fed Targets Unemployment: Why Are They Alone in that Pursuit?
jaredbernsteinblog.com — Why is it that the one person/public institution that’s bringing real grown-up concern and action to the current economy and the plight of the people in it is an unelected body? How we really devolved to the point where so many of our elected officials are so enthralled to vested interests that their jobs are no longer to serve the vast majority of us who depend on a tight job market? Instead, to keep the bucks rolling in, they choose to serve Grover, the Kochs et al, lobbying for tax cuts, corporate breaks, less regulation, and so on, leaving it to a dwindling band of the truly concerned and Fed Reserve technocrats to worry about jobs, wages, middle class incomes and poverty. So, I’m glad Ben Bernanke is standing tall, doing his best to keep the focus on growth and jobs. But the fact that he’s virtually alone in that pursuit is what’s so disturbing.