Federal Reserve

U.S. jobs give Fed both cover and headache

7 Oct 2016

The economy added 156,000 jobs last month. That's decent but not stellar, allowing Janet Yellen to hold rates steady a week before the Nov. 8 presidential election. But wages and labor participation rose, giving Donald Trump enough to make the Fed a political punching bag.

Detractors give central bankers too much credit

26 Aug 2016

Federal Reserve Chair Janet Yellen and other rate-setters stand accused of pursuing policies that only help the rich. Yet the supposed beneficiaries complain that loose money depresses returns and distorts markets. Both sides overestimate central banks’ control over the economy.