Catch of the Day: Obama's Damaging Neglect of the Fed

By failing to fill two open seats on the Fed board, Obama shows he undervalues the importance of these positions. 
Fed Chair Janet Yellen could use some backup on the board.

The Catch goes to Matt Yglesias, who writes today about "the biggest mistake of Obama's presidency: the systematic neglect of the Federal Reserve and of his ability to influence its course of action." Yglesias notes that two Fed seats remain vacant and without nominees. He gives the sorry history of disregard during the Obama administration and the probable consequences:

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