The Federal Reserve Should Get Back to Basics.
WSJ
Dec. 27, 2020 2:38 pm ET
'The Fed’s job is hard enough without demanding that it also lend directly to small businesses, corporations and state governments. Congress should terminate these facilities immediately so that the Fed can focus on what it does best: providing liquidity'.
'These facilities go well beyond the provision of liquidity and threaten to further erode the Fed’s independence'.
https://www.wsj.com/articles/the-federal-reserve-should-get-back-to-basics-11609097886