AIR DATE: May 3, 2017
Danielle DiMartino BoothI spend an inordinate amount of time pondering the potential outcome of public pensions in this country. My buddies managing municipal bonds chide me for wasting my mental energies on doom and gloom scenarios that will never come to pass. But for the life of me, I just can’t square the circle. I understand that when you sum every state and municipalities’ revenues and obligations, we might be OK. But that’s not how state and municipal laws work. Marrying them all together implies storm clouds are forming over Washington DC...
Danielle DiMartino Booth
What role should the Federal Reserve play? That of shepherd of the dollar’s buying power alone, nix the employment mandate that’s triggered mission creep? Or should policymakers continue to stab away at maximizing employment at the expense of future bouts of financial stability, you know, for the greater good, because the private sector can’t or won’t?