The Fed Needs Economists Who Aren’t Politicians: Robert Burgess

Which Stephen Miran will show up to the Federal Reserve’s monetary policy meeting in mid-September as a freshly appointed governor of the world’s most important financial institution? The version who toiled away in relative obscurity after graduating from Harvard University in 2010 with a PhD in economics, writing papers about things like how supply-side reforms and deregulation can spur American industry? Or the version who has advocated for giving the executive branch — the very politicians who have steered the country toward a debt and deficit crisis — more control over the central bank and the cost of money?

On Thursday, President ...