The Myth of the All-Powerful Federal Reserve For decades, Americans have been conditioned to believe that when the economy starts to wobble, the Federal Reserve will step in and stabilize things. Markets panic. Inflation rises. Jobs disappear. And the expectation is always the same: the Fed will fix it. Lower interest rates. More liquidity. Another round of economic “stimulus.” But the situation unfolding right now exposes something uncomfortable: the Fed doesn’t actually control the forces driving this crisis. When inflation is driven by geopolitics, energy shocks, and global supply disruptions, the central bank’s toolkit becomes far less effective. And that’s exactly the corner policymakers are backed into today. War, Oil, and the Inflation Chain Reaction The latest escalation in the…
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