James K. Galbraith is Chair in Government/Business Relations at the LBJ School of Public Affairs at The University of Texas at Austin.
Beholden to mainstream economic ideas, the US Federal Reserve Chair has committed himself, and his reputation, to a goal he cannot achieve. Reining in inflation requires not interest-rate adjustments, but much larger strategic shifts that are not within the Fed’s power to influence.
James K. Galbraith
September 8, 2026 at 6:39 AM IST
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