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[–] Dysnomia [S] ago
The fed's job in determining fiscal policy is so precarious that any public scrutiny or oversight puts the whole nation at risk.
At least that's the argument. The same argument for why we have representatives rather than direct democracy- if the public had any power over policy there would be total chaos.
Of course, most people would readily agree that this lack of accountability and governmental opacity creates the circumstances for the ongoing corruption that dominates representative governments and clandestine bureaucracies like the fed.
Of course, most people don't have to political fortitude to do anything about all this.