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Columnist Proposes Putting Business Leaders On Fed Board Of Governors

The Federal Reserve wrapped up a two-day meeting this week. Most of the attention paid to those gatherings is related to whether interest rates will go up — and whether that will affect markets in a significant way.

At its core, the Fed manages the nation’s money supply but does so in a way that seems extremely complex.

Not everyone thinks that’s realistic though, including Randall Forsyth. He’s associate editor of Barron’s and author of the Up and Down Wall Street column.

In a recent piece, he proposed putting some business leaders on the Fed Board of Governors. They would join the more typical lineup of bankers and economists.

We talked with Forsyth and finance professor Geoffrey Smith of ASU’s W.P. Carey School of Business.