Re:If money rules the world – who rules money? (2008) [pdf]
by kylebenzle on Friday September 29, 2023 @02:56PM
(#37708676)
Small banks can create money but only the Federal Reserve "sets the price" of money. The latter is arguably much more important.
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Re:If money rules the world – who rules money? (2008) [pdf]
by napsec on Friday September 29, 2023 @03:03PM
(#37708773)
The fed has tools they use to influence the value of money, that's true and part of their core mandate. But it's a massive oversimplification to say that they set the price of money.