Another Washington Drama—Or Something Much Bigger? If you skim the headlines, the story looks simple. A senator is blocking a Federal Reserve nomination. Another senator is praising the nominee. An investigation is swirling around the current Fed chair. Typical Washington theater. But when you slow down and examine the moving parts, a very different picture emerges—one that exposes how fragile and political the supposedly “independent” Federal Reserve really is. For decades, Americans were told the central bank operates above politics. The narrative went something like this: Smart technocrats quietly manage interest rates while the rest of us go about our lives. No politics. No power struggles. Just neutral experts steering the economy. That story collapses the moment you watch what’s…
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