To prevent more bank runs, the Fed should pause rate hikes | Robert Reich

Inflation is receding, albeit slowly, so there's no reason to risk more financial tumult. Will the central bank see it that way?

The global financial system is facing a crisis of confidence. Which makes this week's meeting of America's central bankers critically important.

None of the 12 members of the Federal Reserve Board's Open Market Committee were elected to their posts. The vast majority of Americans don't even know their names, except perhaps for the chairman, Jerome Powell.