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The emergency is over. The Fed should bring its firetrucks back to the station

·3 min read
The emergency is over. The Fed should bring its firetrucks back to the station

When notified of an emergency like a high-rise fire, which could be either very serious or a mild annoyance, firefighters assume the worst. Now imagine the Federal Reserve is our financial fire department. Fire Chief Jerome Powell himself said so, repeatedly begging Congress to deal with unemployment and business failures more effectively.