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Saturday, June 04, 2022

Voters must remember, the President affects the economy. He does not run it. The economy is a complex machine, with its checks and balances. Banks and bankers affect the economy, and Biden is being diligent in working with the Federal Reserve.

 The headline tells the nutshell story. This recent AP item shows Biden and his administration are aware of the immense role the Federal Reserve plays. Run by bankers for bankers, the Fed is nonetheless responsible for the nation's monetary policy and how that impacts every economic interaction, at the grocery, at the fuel pump, paying the mortgage, moving to a new job.