You! Yes, you! Sit down and shut up!(Off The News) (Brief Article)

Speaking of confusion, pity the senior staff at the Federal Reserve these days. Bush Administration officials privately complain about what they describe as "out-of-control" Fed staffers who have allowed the institution to send confusing messages to markets in recent months. Such criticism is probably unfair, but senior Fed staff economist Vincent Reinhart appears nonetheless to be the main target of concern. Reinhart, who recently took the job of director of the monetary affairs division, added fuel to the fire in a speech at the August St. Louis Federal Reserve conference held in Jackson Hole, Wyoming. In his remarks, the top Fed staffer--rightly or wrongly--left the impression that to improve communication with markets, he would prefer the entire voting membership of the FOMC speak with one voice. The only problem: Reinhart unintentionally left the impression that the voting membership outside of the Chairman is largely irrelevant. Worse...