12min chapter

Dad Saves America cover image

Economist George Selgin on Money, Inflation, and the Federal Reserve

Dad Saves America

CHAPTER

Inflation and the Federal Reserve: Ownership and Influence

This chapter explores the intricate relationship between commercial banks and the Federal Reserve, particularly focusing on bank ownership and its limited control over monetary policy. It discusses the dual causes of inflation and the role of the Central Bank in managing the money supply to influence spending and inflation expectations. Concerns about regulatory capture and the complexities of money dynamics are examined, illustrating the implications for both purchasing power and consumer behavior.

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