Context in her own words, October 2021: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3715735 https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3715735

Context in her own words, October 2021: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3715735 https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3715735 "This Article... offers a blueprint for a comprehensive restructuring of the central bank balance sheet as the basis for redesigning the core architecture of modern finance. Focusing on the U.S. Federal Reserve System (the Fed), the Article outlines a series of structural reforms that would radically redefine the role of a central bank as the ultimate public platform for generating, modulating, and allocating financial resources in a democratic economy—the People’s Ledger. On the liability side of the ledger, the Article envisions the complete migration of demand deposit accounts to the Fed’s balance sheet and explores the full range of new, more direct and flexible, monetary policy tools enabled by this shift. On the asset side, it advocates a comprehensive qualitative restructuring of the Fed’s investment portfolio, which would maximize its capacity to channel credit to productive uses in the nation’s economy." The Wall Street Journal described her as "a one-person systemic risk to the banking system" but directed readers, "Give Ms. Omarova credit for candor," for she was quite honest and open about her intentions in this area.