The Senate Banking Committee plans to vote on President Barack Obama’s two nominations to the Federal Reserve Board of Governors on March 29, according to a statement posted on the committee’s website today.
The Federal Reserve was designed to represent the diverse interests of the country and to be independent from politics in Washington, and needs to remain so, according to former Fed Governor Randall Kroszner .
Randall Kroszner, professor of economics at the University of Chicago and a former Federal Reserve governor, says he would make tax code reform "front and center" to revive economic growth. Kroszner talks with Bloomberg's Ken Prewitt and Tom Keene on Bloomberg Radio's "Bloomberg Surveillance."
The leading Republican candidates for president have embraced an explanation of the financial crisis that has been rejected by the chairman of the Federal Reserve, many economists and even three of the four Republicans on the government commission that investigated the meltdown.
Federal Reserve Chairman Ben S. Bernanke signaled he may expand record monetary stimulus over the most opposition of his tenure to revive the faltering recovery and reduce unemployment stuck around 9 percent.
Higher-than-forecast U.S. private job gains may reduce pressure on Federal Reserve policy makers to add monetary stimulus this month without closing the door to a move later this year, economists said.