So You Want to Chair the Fed?

Chris Gaetano
Published Date:
Sep 26, 2016
By Dan Smith - Own work, CC BY-SA 2.5

Aspiring central bankers waiting for their shot to set interest rates in order to increase employment and keep inflation under control can try their hand at a new game put out by the San Francisco Federal Reserve Bank that lets you fulfill all your fantasies about monetary policy. You start the game in the middle of the year 2020 with 4.68 unemployment and 2.11 percent inflation. Then you decide whether to raise, lower or simply not touch the current interest rate and press "Go" to see how the economy reacts over the next fiscal quarter.

It's simple, but "simple" does not always mean "easy."  I myself ended my own tenure in shame as inflation climbed above 11 percent despite a 12 percent interest rate that, it seemed, came too little too late. I'm sure you can do much better than me. Why not give it a try and let us know via Twitter or Facebook

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