Forbes Magazine, Article Review Example

A very key important part of sociology is public relations–specifically with reference to the amount of cooperation going on between different committees or branches of government that is key for the running of the government, and full faith and credit in the strength of the economy.

Looking at an article published by Forbes Magazine on May 1, 2013, Ben Bernanke and the Federal Reserve blame both Congress and the President for a lack of economic growth in the recovery of the economy. According to the article, The Federal Reserve will continue to keep interest rates at a record low to attempt to continue stimulating an economy recovering much more slowly than many would have hoped.

According to the article, because “fiscal policy” in Washington is halting the growth of the economy, the Federal Reserve will continue to purchase $40 billion a month in mortgage securities, as well as $45 billion a month in Treasuries simply to keep the economy from completely tanking.

These are the inherent risks associated with the generous bailout program the Federal Reserve must continue because, according to Ben Bernanke, Congress will not allow true economic growth due to partisan politics. Because the bailout was not done properly and the President was at odds with Congress, not enough money was injected into the economy to stimulate a successful bailout.

The fact that Ben Bernanke, chairman of the Federal Reserve, has openly blamed partisan politics for the slow recovery of the US economy is both bad and good. On one hand, it could force the branches of government to better cooperate on policy–on the other hand, it shows indecision in the international market. This can reflect on the economy by a downgrading of the country’s credit rating by the IMF, which could have catastrophic results.