“End the Federal Reserve”: Bannon Shreds Federal Reserve in Incredibly Important Speech

What does the Federal Reserve do? Theoretically, it has a dual mandate of keeping inflation low and employment high, with the goal of promoting the “effective operation of the U.S. economy”.

It’s “about” page , describing that goal, what it’s supposed to be doing, and how it theoretically does those things, provides that the Fed: conducts the nation’s monetary policy to promote maximum employment, stable prices, and moderate long-term interest rates in the U.S. economy;

promotes the stability of the financial system and seeks to minimize and contain systemic risks through active monitoring and engagement in the U.S. and abroad;

promotes the safety and soundness of individual financial institutions and monitors their impact on the financial system as a whole;

f osters payment and settlement system safety and efficiency through services to the banking industry and the U.S. government that facilitate U.S.-dollar transactions and payments; and

promotes consumer protection and community development through consumer-focused supervision and examination, research and analysis of emerging consumer issues and trends, community economic development activities, and the administration of consumer laws and regulations. Well, former Trump White House advisor Steve Bannon, one of the masterminds of Trump’s 2016 victory and […]

Read the whole story at trendingpolitics.com

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