TheAltWorld
Economy
Economist: The Federal Reserve Was Never ‘Independent’
Michael Roberts, a socialist economist and author of The Next Recession blog, joins the show to discuss Donald Trump’s firing of Federal Reserve governor Lisa Cook.
While Trump’s attempts to seize control of the Fed is to force steep interest rate cuts that serve Wall Street, Roberts argues why the Fed’s ‘independence’ is an arrangement that has also come at the expense of working people.
Trump and his MAGA advisers are trying to take control of the Federal Reserve and end its relative ‘independence’ from politicians.
But economist @BlogRoberts says the Fed’s “independence” is a myth: “The central bank works for Wall Street, not Main Street”
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