Comment by pas
3 years ago
it's not a clarification.
the ownership and stocks are entirely legacy symbolic gargoyles on a standard central bank. independent government agency. it's a loosely coupled top-down public institution, the monetary policy is set by a public committee,
> it's a loosely coupled top-down public institution
Indeed. Here I was thinking we'd shed the last of this "independent Fed" legal fiction during the "Great Recession."