We hear a lot of talk of blaming the fed about why we are in the place we are but that’s not entirely true. First the fed controls the overnight rate, and Powell has 12 governors who vote with him, so he has no true authority when there is voting held, granted most side with the chairman there is still dissent. The excess fiscal comes from the congress,…
The Hidden Circuit of U.S. Money Creation
From Congressional Deficits to Bank Lending
