Just in Time for Easter: The Federal Reserve's 'Impossible Trinity'

Federal Reserve
What does the Federal Reserve have to do with theology? Not much, unless you think like Michael Feroli, the chief U.S. economist at JPMorgan Chase. In a new research piece on the Fed, Feroli manages to insert references to the Second Vatican Council, Umberto Eco, the resemblance of the Macintosh operating system to the Roman Catholic Church, and primus inter pares, a Latin phrase meaning “first among equals” that’s often applied to the dean of the College of Cardinals, who presides over the election of a new pope.

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