Goodfriend: Fed's fiscal statement does not go far enough

Earlier this week, the Federal Reserve clarified its role as a guardian of financial stability in an attempt to avoid taking what one regional Fed president has labelled "risky" fiscal actions. For Marvin Goodfriend, a former economist at the Richmond Fed now a professor a Carnegie Mellon University who originally proposed such a clarification back in 1993, the move is welcome. But, he tells CentralBanking.com, it does not go far enough.

Back in 1993, the use of the Fed's balance sheet to acquir

To continue reading...