Chairman Powell, 30 April 2026

… legislative language if it is so important and in keeping with the constitutional directive to Congress to “regulate the money.” Indeed, the Humphrey-Hawkins Act calls for “improved coordination among the President, the Congress, and the Board of Governors of the Federal Reserve System.” By the way, the Fed says it is independent government agency but nevertheless accountable to Congress since the Fed chair testifies before Congress twice a year. But Powell was due to present that monetary report in mid-February…and has refused to do so in a fit of pique, despite entreaties from Capitol Hill. So much for honoring even the ritual of supposed accountability let alone rule of law.

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