As much as I’d like to see the White House unveil a comprehensive jobs and infrastructure plan, the Federal Reserve is now pretty much the only authority in Washington that is both willing and able to support economic recovery, making the Obama administration’s neglect in filling the two vacancies on the Board of Governors, even with recess appointments, all the more mystifying. But it does present an opportunity:
The truth is that liberals should treat the Fed the way they treat the Supreme Court, as one of the most important targets out there for organizing and political pressure. And if they push, this is one area where they probably could exert some real influence on Barack Obama — and, perhaps, on some policies that really matter.
