Tag Archives: Gretchen Morgenson

0.2% Interest? You Bet We’ll Complain

The headline above was stolen directly from today’s New York Times.

Gretchen Morgenson’s story begins:

Stop your bellyaching.

That was the message delivered last Thursday to Americans who today make almost nothing on the savings in their bank accounts.

Sarah Bloom Raskin

It came from Sarah Bloom Raskin, an insider at the Federal Reserve. Ms. Raskin, one of the governors on the Fed board, made the usual disclaimer that her comments reflected her own thinking. But Fed watchers said her remarks probably mirrored views inside the central bank.

The remarks, Morgenson noted, came “during a speech in Westport, Conn.”

The event was a Westport Y’s Men meeting, in the jam-packed Unitarian Church.

The next day Morgenson asked Raskin — a former commissioner for financial regulation in Maryland who also spent time as a managing director at a regulatory consulting firm in Washington, and whose parents live in Westport — for an on-the-record interview. A spokeswoman said she was not available.

So it’s clear: When it comes to discussing the economic future of the United States, the Westport Y’s Men trump the New York Times.

(To read the entire Times story, click here.)