US Tsy Sec Bessent: It's Not Just The Fed Chair, It's The Committee

The Federal Reserve is a private bank owned by private banks. It prints dollars and lends them to the U.S. government at interest.

The statement that "The FED is not just the US central bank" is true. Although The Federal Reserve (The Fed) is the central bank of the United States, its impact extends and greatly influences the global economy, not just in the US. The Fed's policies are often used as a reference by central banks in other countries in making monetary policy decisions.
Here are some points that support this statement:
Global Influence:
The Fed's decisions, especially regarding interest rates, have a significant impact on global financial markets, including currency exchange rates, stock prices, and bonds in various countries.
Policy Reference:
Many central banks in the world use The Fed's policies as a reference in formulating their own monetary policies.
US Economic Strength:
The US as the country with the largest economy in the world, has a major influence on the global economy, and the Fed as the US central bank, has an important role in maintaining the stability of the country's economy and its impact on the world.
Financial Market Connection:
The Fed's decisions also affect global financial markets, including commodity prices, international interest rates, and capital flows.
In short, although the Fed operates as the US central bank, its influence extends throughout the world, making it a key player in the global economy.

The Fed does not print dollars and lend to the government, other than through QE, which was US invented in 2008 and also used around 2020.
Interest on QE gets swept back to the treasury every year.

And write now, that interest payment to the Fed owners exceeds US$1T a year!! Have never been able to understand why no US President is willing to address this issue. Fed Owners must be very powerful people to cause DJT to look the other way.

Checkmate

no cut rate ... even if Trump changes Fed Chair

Incoming black swan

However, the FED & QE is making huge losses right now, which the treasury is also on the hook for

[quote=Tony112;15301639]Incoming black swan [/qu
Quite possible, though there would need to a raft of unfavourable data IMO.

Man this guy talks a lot.................

Abolish the Fed, let free markets set rates, problem solved.