The Corner

Politics & Policy

The Fed and Racial Equality

Biden says that he wants to add to the Federal Reserve’s mission: It should promote economic equality among races as well as low inflation and unemployment. This idea hasn’t gotten much attention — CNN’s write-up of the speech where Biden unveiled it didn’t mention it. At Bloomberg Opinion, I argue that it would be a mistake to distract the central bank from its basic mission of stabilizing the business cycle.

Ramesh Ponnuru is a senior editor for National Review, a columnist for Bloomberg Opinion, a visiting fellow at the American Enterprise Institute, and a senior fellow at the National Review Institute.

Most Popular

World

A Shattered City

On the menu today: Unraveling the mystery behind yesterday’s devastating, jaw-dropping explosion in Beirut; reports suggest that Joe Biden’s vice presidential search isn't going well -- although one report suggests his list is down to two contenders; and yesterday’s primary leaves one less thing to worry ... Read More
World

A Shattered City

On the menu today: Unraveling the mystery behind yesterday’s devastating, jaw-dropping explosion in Beirut; reports suggest that Joe Biden’s vice presidential search isn't going well -- although one report suggests his list is down to two contenders; and yesterday’s primary leaves one less thing to worry ... Read More
U.S.

Our Summer of Cultural Suicide

Cultural suicide used to be a popular diagnosis of why things suddenly just quit. Historians such as Oswald Spengler and Arnold Toynbee cited social cannibalism to explain why once-successful states, institutions, and cultures simply died off. Their common explanation was that the arrogance of success ... Read More
U.S.

Our Summer of Cultural Suicide

Cultural suicide used to be a popular diagnosis of why things suddenly just quit. Historians such as Oswald Spengler and Arnold Toynbee cited social cannibalism to explain why once-successful states, institutions, and cultures simply died off. Their common explanation was that the arrogance of success ... Read More
World

Massive Explosions Devastate Beirut

A series of massive explosions detonated in Beirut on Tuesday, with footage showing a mushroom cloud and shockwave emanating from the city port. [embed]https://twitter.com/air_intel/status/1290676373485490177[/embed] It is still unclear what caused the explosions. Lebanese security forces claimed the ... Read More
World

Massive Explosions Devastate Beirut

A series of massive explosions detonated in Beirut on Tuesday, with footage showing a mushroom cloud and shockwave emanating from the city port. [embed]https://twitter.com/air_intel/status/1290676373485490177[/embed] It is still unclear what caused the explosions. Lebanese security forces claimed the ... Read More
Education

The Shame of the Teachers’ Unions

No other group has shown as much contempt for its own work during the coronavirus crisis as teachers. Their unions are actively fighting to keep kids out of the classroom and also to limit remote instruction, lest it require too much time and attention from people who are supposed to be wholly devoted to ... Read More
Education

The Shame of the Teachers’ Unions

No other group has shown as much contempt for its own work during the coronavirus crisis as teachers. Their unions are actively fighting to keep kids out of the classroom and also to limit remote instruction, lest it require too much time and attention from people who are supposed to be wholly devoted to ... Read More