Six Ways the Federal Reserve Can Do a Better Job: Bill Dudley

The US Federal Reserve is undertaking a major rethink of how it manages the world’s largest economy. Done right, the so-called monetary policy framework review could render the central bank much better able to handle the kinds of economic shocks and policy uncertainties that the current US administration has proven adept at delivering.

Chair Jerome Powell shouldn’t let President Donald Trump get in the way of this crucial work.

Amid Trump’s on-again-off-again threats to attempt firing Powell, the Fed chair might be tempted to take a “nothing to see here” approach, opting for minimal changes. This would be a mistake. ...