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Why The Federal Reserve's Power Is 'Limitless'

FiveThirtyEight Politics

Are There Other Examples of the Fed's Power to Choose Winners and Losers?

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If partisans were to get a hold of a majority of Fed board seats and be able to chart policy according to their partisan ideologies, what are the kinds of things that those partisans might do? Yeah. Well, I think the limitations on them are less stringent than even most experts understand. And an administration could really use these powers pretty expansively to funnel cheap credit to a lot of different sectors of the economy.

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