Economics
Goldman’s No. 2 Takes Rare Swing at Fed’s Autonomy and Resolve
- Waldron worries Fed won’t do what’s needed if markets protest
- ‘We might need to bring back Paul Volcker,’ he tells investors
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Just as the Federal Reserve was about to talk up its commitment to taming the hottest inflation in almost 40 years, a top U.S. banking leader delivered an unusually brusque critique of the central bank.
Goldman Sachs Group Inc. President John Waldron said the independence of the Fed has been damaged in recent years and that it’s lost credibility in markets, as he offered a blunt assessment to pension fund managers.