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(The Center Square) – Bipartisan legislation introduced by Republican North Carolina Sen. Thom Tillis aims to increase transparency in the Federal Reserve System as lawmakers probe recent bank failures.
The Federal Reserve's greatest resource is its credibility. People have to believe the central bank will get inflation under control -- or else inflationary psychology becomes entrenched and causes years of pain. Likewise, people need to trust that Fed leaders will prioritize what's best for the nation over any personal gain -- otherwise the central bank won't survive.