The Federal Reserve is Embracing Left-Wing Policies—Here's Why You Shouldn’t Be Surprised

in economics •  3 years ago 

The Federal Reserve banks have begun to venture into areas traditionally considered outside of its scope. However, the Fed has a long history of violating norms, and the incentives created by political institutions can explain why.

Source: The Federal Reserve is Embracing Left-Wing Policies—Here's Why You Shouldn’t Be Surprised - Foundation for Economic Education

If you are wondering why there is a certain segment of the population that wishes to End the Fed, this article is as good a place as any to start.

The decisions that the Federal Reserve make in regards to monetary policy often (always?) have no bearing on what is best for the economy or the country in the long run. The latest round of 'woke' policy updates only reinforce that. Rational human being can debate the specifics in regards to the science of climate change but in regards to specific government policy to combat climate change, science is not involved, only politics. The Federal Reserve is used as a political tool and these policies only serve to potentially increase its power in that regard. What business, for instance, do banks have assessing climate risk?

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