Posted on 11/19/2010 3:45:24 PM PST by ChicagoConservative27
(Reuters) - Treasury Secretary Timothy Geithner on Friday warned Congress against politicizing the Federal Reserve and said the Obama administration would oppose any effort to strip the Fed's mandate to promote full employment.
"It is very important to keep politics out of monetary policy, as Congress recognized when it established the Fed," Geithner said in an interview on Bloomberg Television's "Political Capital with Al Hunt" program.
Two influential Republican lawmakers this week said the Fed should focus solely on inflation and ditch the full-employment half of its "dual mandate"
(Excerpt) Read more at reuters.com ...
And just where in hell is this so called mandate written???
Geithner is a full-blooming idiot. And proud of it.
It sure helped employment to print $600B in play money.
Save us from the educated.
This damn communists government has America screwed totally. Every Democrat in both the Senate and House are communists socialists bast@@@s. And add some Republicans and America may never be a Constitutional Country again. At lease until a complete civil war.
If Tax Cheat Tim and Obama oppose it, we NEED to impliment it.
Timmy and Charlie should be in jail cells.
Time for hearings on old Timmy.
Full Employment and Balanced Growth Act aka Humphrey–Hawkins Full Employment Act
keynsian Democrats during the Carter years passed it. Plenty of information online about it
This is code word for keep printing money for the bankers.
This is code word for keep printing money for the bankers.
“It is very important to keep politics out of monetary policy, as Congress recognized when it established the Fed,”
The stupidity and intellectual self-delusion of people like little Timmy Geithner, after years of indoctrination in academia - in as much as:
the “full employment” mandate is
a POLITICAL MANDATE (not an intrinsically and organic “economic” mandate) TO INTERVENE, FOR THAT POLITICAL MANDATE, TO ARTIFICIALLY INFLATE THE ECONOMY TO ARTIFICIALLY TRY TO “PRODUCE” FULL EMPLOYMENT.
The “full employment” mandate, requires the Fed to use all its powers to, in affect, try to offset all the ways the government has worked against the best economic possibilities.
The politicians in Congress screw up our economic possibilities and then the Fed has a mandate to perform all its own artificial interventions to undo the harm the political class has made.
Geithner is an idiot.
The Fed’s mandate IS a political mandate.
Let us not forget Chris and Barney.
How long must we tolerate a failed institution like the Fed.
The whole bunch of them are the very definition of drunk with power.
There is a lot of “mandatory volunteering” and “social work” to be done. If the government wanted to up employment and get things done, have a lot of the long term unemployed picking up trash, planting trees, pulling weeds and cleaning up graffiti across the nation in return for their checks. You get the work done for essentially minimum wage, and those that don’t like it can find things to do. Have some of the women doing childcare while the other mothers work and all of the men and you’ve gotten employment PLUS “good for the environment”. There’s no point in demanding teenagers pick up trash for “service hours” when there are millions of 99ers who need to do SOMETHING.
LOL
LOL
I understand your point.
I don’t understand what it has to with the policies of the Federal Reserve (credit & money supply, interest rates, and the like, NOT about how the Federal Government spends tax revenue).
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