Here’s a Job for Trump’s ‘Musk Commission’: Take a Look at How the Federal Reserve Is Paying Banks Not To Lend

If the journalists won’t ask the question of the Fed, maybe an official bottom-up look at our money-losing central bank is in order.

AP
President Trump and the Tesla and SpaceX chief executive, Elon Musk. AP

A new focus on the need to cut federal government spending is a welcome development — especially if it leads to a complete financial and performance audit on the functions carried out by government agencies. One agency that has long escaped such scrutiny, though, is the Federal Reserve, our nation’s central bank, on the pretext that too much oversight might compromise its independence.

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