Central Bank Importance to You

Central banks were set up with the idea that it would be best for a country to keep its financial system from undue political influences.

Over time, politicians have let their natural tendency to exert influence produce financial and economic pressures. It generally is harmful to change objective banking independence, particularly during stressful times.

Major global central banks are not doing well with regard to their current national financial crises,

In the U.S., the Federal Reserve Bank, which always has been loosely supervised by Congress, appears to be more under the influence of the White House and its fiscal policy than it had ever been in past administrations.

The Fed now goes more deeply into the American economy than it had before, aside from the additional Dodd-Frank legislation. (See the Earl J Weinreb NewsHole® comments.