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What? The FED’s independence from the government (politicians) is exactly what keeps it from being corrupted, from being used as a partisan political weapon.
by nimblebill 6y ago
What? The FED’s independence from the government (politicians) is exactly what keeps it from being corrupted, from being used as a partisan political weapon.
- apta 6y agoAnd the Fed is making money by lending money with interest to the government. Easy, immoral money.
- dragonwriter 6y ago> The FED’s independence from the government (politicians) ...does not exist. The Fed is a government entity whose policy-setting body (the Board of Governors) consists entirely of Presidential appointees confirmed by the Senate, and who can be removed by the President (at least “for cause” based on a collateral reference, and possibly without cause though that's murkier, though no explicit boundaries exist on the qualifying causes.). It is “independent” within the government (has it's own policy-setting body which exercises directly-delegated powers, and whose members have terms not tied to Presidential terms and at least arguably cannot be removed by the President without cause), not independent from the government.