FEDERAL RESERVE INDEPENDENCE

On May 12th, SSILL welcomed back Ray Lombra, Ph.D., Professor Emeritus of Economics from Penn State University to talk to the membership about the Federal Reserve and the delicate balance between independence and political influence.  The session was very educational and provoked some very interesting questions from the audience.

Professor Lombra has a unique insight into the Federal Reserve, as he was employed there for several years and knew some of the key players dating back to the 1970’s.  The current ecomonical and political climate has underscored the importance of the Federal Reserve and Professor Lombra was able to shed some light on the role of the Federal Reserve in fighting inflation and promoting economic growth.

It is understood by most that the issues facing the Federal Reserve seem complicated during times of uncertainty.  The history of political influence over the Federal Reserve was highlighted by Professor Lombra during the presentation.   Professor Lombra has presented to SSILL in the past, and will be coming back by popular demand to speak with the group next year.