regulatory accountability

Crain’s New York Business — Esther Roman, a 60-year-old grandmother in Brooklyn, was alarmed when she noticed in January that her $300 weekly paycheck was $27.99 short. She called her employer, a home health care agency, which said her wages were being garnished after someone sued her, claiming she’d failed to pay an old credit-card bill.

We are dismayed that the New York Fed appears poised to appoint a new president through a reportedly closed process, without meaningful consideration of public input. Given the vital role of the New York Fed president and all that is at stake with this appointment, New Economy Project calls on the Fed to pursue an open, transparent process for selecting its next president, even if this means going back to square one.