“People in America get really angry at the Federal Reserve and at the "money system" in general during economic crises. The Fed draws hostility because of its power, its insulation from democratic accountability, its lack of transparency, and because of its historical and structural connections to finance.” PeopleAmericaEconomicDrawsConnectionsCrisisAngryHistoricalDemocraticFinanceAccountabilityFedsReservesHostilityGet RealTransparencyFederal ReserveEconomic CrisisInsulation Author:Gerald Epstein
“Bankers themselves govern the Fed to some extent, and then there's the classic revolving door where Fed officials come from and then go back to the financial sector. Fed officials tend to believe that the institution should have a large measure of independence from democratic control, even though in law it is under the ostensible control of Congress.” ShouldBelieveLawDoorsShould HaveIndependenceInstitutionsDemocraticFinancialCongressClassicOfficialsFedsBankersIn-lawsRevolvingRevolving Doors Author:Gerald Epstein
“Many of those on the right distrust the Fed and want to eliminate its power in the belief that the private economy, including the private banks, will be much more efficient, productive and even democratic if they are left to themselves: in other words, the criticism of the Fed really reflects a desire to cripple the government in the service of increasing the power and authority of the market.” IfsWantGovernmentDesireBeliefLeftEconomyAuthorityCriticismDemocraticIncludingProductiveFedsEfficientDistrustCripples Author:Gerald Epstein
