"What gives is that the Fed isn't printing money and lacks the authority to do so." The Feds only job is to oversee the creation of new money. It was given tha

"What gives is that the Fed isn't printing money and lacks the authority to do so." The Feds only job is to oversee the creation of new money. It was given that power by Congress in 1913: https://en.wikipedia.org/wiki/History_of_central_banking_in_the_United_States#1907–1913:_Creation_of_the_Federal_Reserve_System https://en.wikipedia.org/wiki/History_of_central_banking_in_... "The Federal Reserve System — also known as the Federal Reserve or simply as the Fed — is the central banking system of the United States today. The Federal Reserve's power developed slowly in part due to an understanding at its creation that it was to function primarily as a reserve, a money-creator of last resort to prevent the downward spiral of withdrawal/withholding of funds which characterizes a monetary panic."