Fed “independence” interpreted

Just so we’re clear, Fed "independence" means that us proles are not allowed to know what exactly the Fed is doing and we’re not allowed to change its leadership. So, like Greenspan, Bernanke will leave only when he’s good and ready. Who are we to say otherwise?

And, of course, this "independence" is vital. If the Fed wasn’t independent, it might print money like crazy and destroy the value of the dollar. It’s good to know those things will never happen.

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