GOP Wants To Strip Fed Of Power To Combat Joblessness

[Joanne98]

WASHINGTON -- Congressional Republicans are pushing to strip the Federal Reserve of its authority to address unemployment, leaving it with the lone responsibility to combat inflation. Sen. Bob Corker (R-Tenn.), a key member of the Senate Banking Committee, became on Monday the latest Republican to propose that the central bank stop worrying itself with the jobless crisis.

"It is time that we work to clarify the mandate of the Federal Reserve," Corker said in a statement. "Providing our central bank with a clear and explicit focus on keeping inflation low will serve America better than the broader mandate approach we have today."

Congress, meanwhile, has not made a major attempt to address the unemployment crisis since passing the stimulus in early 2009, leaving the Fed as the policymaker of last resort for the jobless. An emergency extension of unemployment insurance is set to expire if Congress doesn't act shortly, prematurely costing two million people their benefits by the end of the year.

"I think the Fed should be focused on monetary policy, and clearly monetary policy has an impact on employment, but I don't think that should be a driving issue in their decision-making," Sen. Richard Burr (R-N.C.) told HuffPost when asked about Corker's suggestion.

http://www.huffingtonpost.com/2010/11/16/gop-wants-to-strip-fed-of_n_784225.html

Now we finally get to the TRUTH. Why do the conservatives hate the Fed? it has always been a mystery since conservatives LOVE anything that's BIG RICH and UNFAIR!

[Drale]

1. OH MY FUCKING GOD

WHAT THE FUCK IS WRONG WITH THESE PEOPLE. If there is any evidence that humans have been effected by the pollution of the earth its these idiots lack of brain power.

[SDuderstadt]

2. How is the Fed...

"rich"?