I’m grateful to Chairman Bernanke for his thoughtful response to my op-ed. I have two responses to his argument that my concerns constitute merely a “technical point” and are not valid “in practice.” First, Congress disagrees with Chairman Bernanke. Congress recognizes that there is a problem with the FOMC making monetary policy while the ...

Ignore the Federal Open Market Committee. The smaller, more dovish Board of Governors will decide. On June 17 the Federal Reserve will release its new “Dot Plot,” which will show, anonymously, what each Federal Reserve Bank president and member of the Board of Governors thinks short-term interest rates should be in coming years. Fed watchers ...

Since the financial crisis of 2008, there has been a robust, and at times heated, debate among economists over the proper role of activist fiscal policy—not just in a slump, but in an economy like ours, that's been in recovery for years. No one has been more active in that debate than Nobel economist and New York Times columnist ...

Much economic good ultimately flowed from the gathering 70 years ago, but its reputation is overstated. This month marks the 70th anniversary of the historicUnited Nations Monetary and Financial Conference in Bretton Woods, N.H., today known simply as Bretton Woods. The conference, attended by 44 allied nations in the wake of the D-Day landings ...

There is strong evidence that for more than a decade the Fed has been using interest rates to push investors toward or away from stocks and other assets..

The Federal Reserve thrilled markets last week with the announcement that it would pump $40 billion into the economy each month through the purchase of mortgage-backed securities. Chairman Ben Bernanke justified this action by explaining that the Fed's tools "involve ...