Source: Foundation for Economic Education
by Matthew Blakey
“Whenever the Federal Reserve releases its meeting minutes, a crowd of analysts rush to dissect every comma and qualifier. But in a country that prides itself on free markets and capitalist dynamism, why do we hang on the every word of an exclusive club of central planners? Markets shouldn’t have to interpret the tone of Jerome Powell’s press conferences or scrutinize the footnotes of bureaucratic transcripts. But they do — because we’ve built an economy where interest rates, the price of credit, and the flow of capital are controlled not by supply and demand, but by a small committee of bankers and economists. The problem isn’t just Powell. The problem is that we’ve come to accept central planning at the heart of a supposedly free-market system.” (06/13/25)
https://fee.org/articles/the-fed-is-powerful-thats-the-problem/