The Key To Power At The Federal Reserve? Running The Meetings

I am asking this sincerely: Why does it matter who the next Fed chairman will be? What difference does it make if Larry Summers or Janet Yellen or someone else heads the central bank?

More to the point: What does the Fed chairman do? What kind of power does he or she actually have?

To find out, I called Joe Gagnon, an economist who worked at the Fed for nearly 20 years and who now works at the Peterson Institute for International Economics.

Read a condensed transcript of our conversation at Planet Money.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Advertisements
%d bloggers like this: