James Bullard, the President of the St. Louis Federal Reserve, has become the second regional bank President in the last couple months to endorse the concept of breaking up large banks. “We do not need these companies to be as big as they are,” Bullard said. His remarks come a week after J.P. Morgan Chase [...]

The Consumer Financial Protection Bureau was designed with an independent budget, despite being housed inside the Federal Reserve. Under a formula, the CFPB will get a percentage of Fed funding, and if they don’t use all of it, the money returns to the Treasury. James Bullard, of the St. Louis Fed, doesn’t much like that [...]

The Federal Reserve has an assortment of missions, but chief among them is to conduct monetary policy to ensure maximum employment and price stability. Through interest rate-setting and other tools, they try to hit a target for both inflation and employment. Needless to say, with the jobless rate at 9.5% (at a minimum), they aren’t [...]