Robert Reich: The Fed in Hot Water

Friday, 9:27 am

By Cyn

Robert Reich The Fed has a big problem. It acts in secret. That makes it an odd duck in a democracy. As long as it’s merely setting interest rates, its secrecy and political independence can be justified. But once it departs from that role and begins putting billions of dollars of taxpayer money at risk—choosing winners and losers in the capitalist system—its legitimacy is questionable.