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Some Fed Officials Face Heat for Wading Into Hot-Button Issues
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A regional Federal Reserve leader’s foray into a Minnesota education campaign has reinvigorated a debate over whether the central bank’s increasingly expansive policy and research interests are going beyond what Congress intended for the central bank.
Sen. Pat Toomey (R., Pa.) last month criticized Minneapolis Fed President Neel Kashkari for his bank’s support of a proposed change in the Minnesota constitution that aims to ensure all state students get the best possible education. That followed critiques the senator sent to some of the regional Fed banks last year over their activities on other issues, including climate change and racial inequality.
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