The Fed keeps expanding its powers, and that’s making some people nervous
“They shouldn’t be getting involved in these things even if progressive politicians want to drag them in. They have to have the courage to say ‘no. Since 2008, they have capitulated on so many fronts I don’t even recognize the institution anymore. The bank I worked for is gone.” – Christopher Whalen, Whalen Global Advisory
USAGOLD note: Some see the cozy relationship between the Fed and the current Treasury Department in policy terms as a dangerous precedent. More and more, it appears the Biden administration appears intent on laying the groundwork for the Age of Modern Monetary Theory which calls for a merger between the federal government and the central bank as a core principle.
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