
Why do we need an independent Fed?
The New Liberal Podcast
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Understanding the Federal Reserve's Role
This chapter examines the Federal Reserve's critical role in shaping the economy, highlighting the importance of its independence from political influence. Through the lens of a babysitting cooperative's 'recession', it illustrates how managing the currency supply is vital for economic stability. The discussion also delves into the mechanics of interest rates, inflation, and the Federal Reserve's dual mandate of promoting maximum employment and controlling inflation.
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