Lex Fridman Podcast
#457 – Jennifer Burns: Milton Friedman, Ayn Rand, Economics, Capitalism, Freedom
Jennifer Burns
And so the Federal Reserve has stopped being an independent entity. It's just a sub sort of department of the Treasury. But in 1951, they negotiate what's called the Treasury-Fed Accord. And the Federal Reserve gets its independence, but it doesn't really use it. But statutorily, it now has it. And so most economists are just observing this.
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