By Pam Martens and Russ Martens: August 15, 2024 ~ A fascinating new academic paper has been released. Its title is “The Myth of Fed Political Independence.” Its premise is this: “The much-vaunted independence of the Federal Reserve is a myth. The Fed is not the bastion of sound monetary policy. Rather, it is just another politically coopted agency of the federal government.” The study asserts further that “Something like the Stockholm syndrome seems to describe the institutional relationship that exists between the U.S. Congress and the White House (the captors), and the Federal Reserve (the captives). The paper is written by Thomas Joseph Webster, Professor Emeritus of Economics at Pace University’s Lubin School of Business, who has written extensively on the Fed and the role that its quantitative easing has played in ballooning budget deficits, the national debt and inflation. Dr. Webster previously worked as an international economist with the … Continue reading New Study Says the Fed Is Captured by Congress and White House — Not the Megabanks that Own the Fed Banks and Get Trillions in Bailouts