I would agree....fewer than ten-percent can give a reasonable definition of the Fed (two lines).
Journalists (at least at national level) might have a 80-percent recognition factor. And if you got elected to DC....Representative or Senator....you have a 99-percent recognition factor.
The thing is...as much as you might think they are there to help the nation....it could be exactly the opposite in terms of what they do in results.
We could say that after 1929, for sure.
Wait a sec., up until the early '30's we were on the gold standard, and having the Fed control money w/ the Open Market Committee didn't even exist until the late 30's. Even the idea of having a 'lender of last resort' didn't bring about the FDIC until the Depression was already well under way.
-——a reasonable definition of the Fed (two lines)-——
You have a chance this morning to help out those of us >10%ers
what are your two lines?