Chamath Palihapitiya, a prominent venture capitalist, has expressed skepticism about the Federal Reserve’s alleged independence.
Fed Is Partisan, Always Aligns With Presidents
Palihapitiya, on the All-In Podcast on Tuesday, argued that the Federal Reserve is not as politically neutral as it is often portrayed. He likened the Fed to other governmental appointees, stating that they are “partisan” and aligned with the ideologies of the presidents who appointed them.
Palihapitiya emphasized that the governors of the Federal Reserve were appointed due to their alignment with the ideologies of the respective presidents and that it is time to acknowledge this reality.
“The idea that we still can’t admit that the Federal Reserve is political, is part of the problem,” stated Palihapitiya.
He also proposed that the president should be “allowed to remove” a …