The Fed controls money. It is the instrument by which the government dilutes the value of YOUR and MY money, which we already have, in savings accounts.
It is theft, since it takes from us what we earned honestly.
The FED is the foundation and sina qua non of the progressive-nanny state.
Every social-engineering project from social-security to on-demand abortion have their roots in progressive government being able to create debt and print money from nothing.
Yep, they use it to generate and control inflation, their hidden tax.
Indeed, and you will always have Wall Street hucksters and the political elite downplaying the fear of inflation, and up playing the fear of deflation.