The Bank Regulator Who Was Blocked for Being Right
Lever Time
00:00
The Fear of the Fed Chairman Being Too Responsive
From 1935 to 1950, we dropped the charade and the chair was a guy named Marino Echols. FDR would tell him what to do and Truman would tell him on interest rates. The most successful period that the Fed has ever had was when it was explicitly under the control of the elected leader of this country. We're afraid to let our own people Elected leaders make those decisions because they don't like democracy at its core.
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