The central bank for the first time is making an attempt to shape the labor market, believing that reducing unemployment is the key to the recovery. It has tied billions of dollars of stimulus money to the health of the labor market. It has vowed to keep interest rates at historic lows until the unemployment rate is at least 6.5 percent. Top officials have begun addressing the issue in increasingly urgent and personal tones.Central planning gone wild. Here's the case against the Fed.
Tuesday, March 12, 2013
The Washington Post reports:
Posted by Steve Bartin at 8:00 AM