https://www.nysun.com/editorials/cou...on-this/91179/
What will force this debate into the open? In the Wall Street Journal, James Grant has just likened the chairman of the Federal Reserve, Jerome Powell, to Dr. Feelgood. In the latest number of Mr. Grant’s newsletter, the leading article points out that, following the expansion of our central bank’s balance sheet in the current crisis, the ratio of the Fed’s assets to capital is now a staggering 182 to one. When are the left-of-center sages going to catch up with this issue?
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