Tales From the Fed: Rivlin on the Perfect Storm

BY busadmin  July 27, 2009 at 3:48 PM EDT

Paul Solman: In preparation for our NewsHour event with Ben Bernanke in Kansas City last night, we interviewed a variety of former Fed officials to discuss the past, present, and future of the central bank.

Two especially intriguing interviewees were with former Fed vice chairs: Alan Blinder, now back at Princeton and recently mentioned as a possible future Fed chairman, and Alice Rivlin, Bill Clinton’s director of OMB and now with the Brookings Institution and Georgetown University.

This week on the Business Desk, we’re featuring provocative excerpts from the interviews — one-a-day Fed vitamins, if you like. Which we hope you do.

On tap for today: Alice Rivlin on Wall Street’s perfect storm of 2008 and what it means for the Federal Reserve.