Submitted by Elaine Magliaro, Guest Blogger
William Dudley, the President of the Federal Reserve Bank of New York, recen
tly visited Queens where he got a “street-corner” education on the cost of living. Evidently, the Federal Reserve has been trying to sell its monetary policy to average folks—who aren’t exactly buying into to its talking points.
Dudley, a former chief economist for Goldman Sachs, gave a speech in Queens in which he spoke about the economy’s progress and the Fed’s successes. When the question and answer period rolled around, people in the audience wanted to know why the prices for food and gas were rising. As noted in a Wall Street Journal article—“the Fed doesn’t think food and gas prices matter to its policy calculations because they aren’t part of “core” inflation.”
Continue reading “Let Them Eat…iPads!: William Dudley Antoinette Visits Queens”
