Reform The Fed? Get Rid Of Groupthink

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Reform The Fed? Get Rid Of Groupthink By Aaron Klein, Olivia V. Weiss, Bipartisan Policy Center. Whether and how to reform the Federal Reserve System (Fed) has become a hot topic. Senate Banking Committee Chairman Richard Shelby (R-AL) called for increased Fed accountability at a recent hearing. Senator Jack Reed (D-RI) has introduced legislation to make the president of the New York Federal Reserve Bank subject to presidential appointment and Senate confirmation. Senator Rand Paul (R-KY) reintroduced his “Audit the Fed” legislation, which passed the House of Representatives with strong bipartisan support last year. Financial industry leaders like the Financial…

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