The Latest from Cafe Hayek

(Don Boudreaux)

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… is the opening line of George Will’s latest column – a column titled “Biden proposes saddling an already struggling Federal Reserve with two political activists.

Today’s Federal Reserve illustrates this axiom: When a government entity cannot, or would rather not, adequately perform its primary function, or when it feels that its primary function is insufficiently grand, the agency will expand its mission, thereby distracting attention from its core inadequacy.