The Supreme Court will hear arguments about the Trump administration’s attempted firing of Fed governor Lisa Cook this week. The outcome could determine how easily the president can dismiss other Fed officials.
Wholesale inflation rose from 2.8% in October to 3.0% in November, according to the latest Bureau of Labor Statistics report. But where inflation is headed is as much about how consumers feel as it is about what wholesalers are paying.
“Marketplace” host Kai Ryssdal spoke to Alan Blinder, former Vice Chair of the Federal Reserve Board of Governors, about what the investigation might mean for the future of the Fed and monetary policy.
The Fed doesn’t just set interest rates. It needs to be able regulate banks independently too, to make sure the financial system keeps running in good and bad economic times.