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JOHN TAMNY is Political Economy editor at Forbes, a senior economic adviser to Toreador Research & Trading, and editor of RealClearMarkets.com (RCM). A spin-off of the policy website RealClearPolitics, RCM seeks to compile top-quality information and opinion about the stock markets and global economy. Mr. Tamny frequently writes about the securities markets, along with tax, trade and monetary policy issues that impact those markets for a variety of publications including the Wall Street Journal, Investor’s Business Daily, Financial Times, National Review and London’s Daily Telegraph. His new book is titled Popular Economics: What the Rolling Stones, Downton Abbey and LeBron James Can Teach You About Economics. He’s a weekly guest on Forbes on Fox.
Prior to his present work, John worked in private wealth management for Credit Suisse and Goldman Sachs. Mr. Tamny received a BA in Government from the University of Texas at Austin, and an MBA from Vanderbilt University’s Owen Graduate School of Management. He lives in Washington, D.C.
The Federal Reserve is one of the most disliked entities in the United States at present, right alongside the IRS. Americans despise the Fed, but they’re also generally a bit confused as to why they distrust our central bank. Their animus is reasonable, though, because the Fed’s most famous function—targeting the Fed funds rate—is totally backwards.