federal reserve board

Governor Andrew Cuomo
Office of Gov. Andrew Cuomo

Governor Cuomo says he’s fighting a proposed merger of KeyBank with First Niagara Bank, saying it would limit choice for New York consumers and could possibly violate anti trust laws.

Back in 1990, a Congressman from South Carolina (Stephen Neal) introduced a bill that would require the Fed (our Central Bank) to make a zero rate of inflation its primary goal.  I was able to publish my response in the economic journal Challenge under the title, “Zero Inflation: prescription for recession.” (Challenge 1990) At the time I noted that Fed Chairman Alan Greenspan had expressed support for that goal.  What I did not know was that later in the decade, Chairman Greenspan would attempt to persuade the entire Federal Reserve Board of his view.  IN 1996, he engaged in a spirited Debate with Economist Janet Yellen, then a member of the Fed Board of Governers.