Fed official plays politics as inflation soars

Federal Reserve Bank of Minneapolis President Neel Kashkari’s decision to dismiss inflation fears while engaging his bank in totally inap...


Federal Reserve Bank of Minneapolis President Neel Kashkari’s decision to dismiss inflation fears while engaging his bank in totally inappropriate political activism does not improve over time. As inflation continues to soar, Senator Pat Toomey (R., Pa.), a senior member of the Senate Banking Committee, send a letter this week to Mr. Kashkari:

I write about the active and political lobbying efforts of the Federal Reserve Bank of Minneapolis (Minneapolis Fed) to change the Minnesota constitution on K-12 education policy. These political lobbying efforts by you and other Minneapolis Fed officials, which the Minneapolis Fed board shockingly endorsed, go well beyond the mandate of the Federal Reserve, violate the policies of the Federal Reserve Bank, are a misuse of Minneapolis Fed resources and ultimately undermine the federal government. Independence and credibility of the Reserve.

For more than two years, you have wrongly used your position as Minneapolis Fed President and the resources of the Minneapolis Fed to aggressively pressure the people of Minnesota to support the Page Amendment, a amendment to the Minnesota constitution that you helped develop that would create a new “fundamental right to a quality public education.

This amendment is highly political, as it engages in an ongoing debate about whether government-run school systems are preferable to parental choice in education. It’s also controversial because it could be used by liberals to challenge education spending levels in court and give activist judges grounds to override levels set by the state legislature, which is elected by citizens. voters and accountable to them.

Almost a year ago, this section wrote:

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Newsrust - US Top News: Fed official plays politics as inflation soars
Fed official plays politics as inflation soars
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