Federal Reserve Bank Presidents: Washington is Killing Business

Want to know why the economy is still dragging along with stagnant growth and 9.1 percent unemployment? Travel back in time over the past 18 months and listen to what some Federal Reserve Bank presidents predicted would result from the Obama Administration’s public policy path.

In short, they come to one salient point: Washington has created a great deal of uncertainty and hostility among private enterprise. It’s a message White House Chief of Staff Bill Daley heard last week when he met with manufacturing executives who complained of the Obama Administration’s roadblocks to their business growth. To one he replied, “Sometimes you can’t defend the indefensible.”