It appears likely that Congress will punish the Federal Reserve for its role in the financial crisis by taking away some of its independence and responsibilities. The legislators are scapegoating.
Administration officials and members of Congress fret that banks aren't lending enough, and that companies aren't hiring enough, to reduce unemployment significantly and get the economy moving again.
The following is an edited transcript of the round-table discussion. It was moderated by <i>InvestmentNews</i> deputy editor Evan Cooper and reporter David Hoffman.
Thanks to foot-dragging by Congress and the Department of Labor, millions of participants in defined-contribution retirement plans have struggled through the financial crisis and market crash without
Congress has plans to pass health care reform legislation, and cap-and-trade legislation to combat global warming, and will have to reconcile financial-reform legislation — all by the end of the first quarter of 2010.
Could the Obama administration be following a weak-dollar strategy deliberately?
Although the Federal Reserve Board remains confident that inflation will remain low, those drafting the health reform legislation in the House of Representatives appear to be betting that it will accelerate in the next few years.
Wealthy investors know that tax increases are in their future.
The Federal Reserve Board has named Patrick M. Parkinson, 57, director of the Division of Banking Supervision and Regulation.
