> The fed does plenty of things that are outside of the scope of it's charter. Name one. > Further, we can just change the law, this isn't some immutable trut

> The fed does plenty of things that are outside of the scope of it's charter. Name one. > Further, we can just change the law, this isn't some immutable truth of central banks. Well then go change the the law instead of saying that with the law being what it currently is the fed should instead engage in other "socially productive forms of spending". > Even within the scope of the fed's mandate we could invent ways to invest in infrastructure instead of Walmart. Invent them then and tell us. The fed can buy bonds, they buy bonds, they can set the interest rate, they set the interest rate. If there is a company building infrastructure that issues bonds then presumably the Fed can buy them, and I'm sure they will because the Fed is trying to flood the system with money, and for the most part indiscriminately with maybe just an eye on credit ratings.