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On the other hand, The Fed goes over the top with what they can do and Congress refuses to lean in on its supervision of The Fed. Imagine that. You refuse to d
by chiefalchemist 5y ago
On the other hand, The Fed goes over the top with what they can do and Congress refuses to lean in on its supervision of The Fed.
Imagine that. You refuse to do your job and you still have a job.
Only in America.
- chiefalchemist 5y agoDear Down-voter Congress has the power to monitor and "regulate" The Fed. That is, The Fed is not - or isn't supposed to be - completely autonomous. It has oversight, or should. The reality is, it does not. Congress lets The Fed run wild. That might be the status quo, but it's not how it legally needs to be. So yes, Congress isn't doing their job. And no one (read: the media) is questioning that negligence. Again, only in America. << That's not editorial. It's a statement of fact.
- harambae 5y ago>only in America I agree with everything else, but Europe is dealing with even worse inflation than the US and the ECB is being even more dovish.
- chiefalchemist 5y agoI can't speak for Europe, but Congress does have the power to put The Fed on a leash and they don't. The conflict of interest is blinding. We The People in the darkest dark. Again. That's the scope of Only in. America, in this case.
- richiebful1 5y agoEven more, Congress just elected Chairman of the Fed Jerome Powell to another term in office. If they were unhappy with him, they'd fire him
- chiefalchemist 5y agoThe fire him, Wall Street and the rest panics. They keep him and we get more insanity. He was interviewed on Marketplace (NPR) this past week and he should be a politician. Tons of half answers and such. Another disconnected elite with zero affinity for accountability.
- thoms_a 5y agoNot a down-voter and I agree with your positions, but why stop at congressional oversight? Why should a private company [1] be controlling a nation's money supply? 1. https://publicbankinginstitute.org/money-banking-basics/ https://publicbankinginstitute.org/money-banking-basics/
- chiefalchemist 5y agoOh. I agree. "End The Fed" was an eye opener for me. But what we got is what we got. For now?? Until that changes Congress is as guilty as The Fed.