M_U · @M_U
211 followers · 361 posts · Server toot.community

So, this will come up, did the chief (which is the only real part of the fed, the rest has been a pure ceremonial thing for 90+ years) violate the power of the purse in ?

Of course they did. You can't create a notional EIGHT TRILLION DOLLARS without the implied federal purse.

Congress hasn't had the exclusive power of the purse for at least 15 years, it is silly to pretend otherwise.

#nyfrb #tarp

Last updated 2 years ago