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Welcoming remarks by Governor Waller, June 22, 2026
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🚨🇺🇸 The institution everyone blames for inflation can't even create money that means anything on its own.Jeffrey Snider just explained the limits of the Federal Reserve."The best that the Federal Reserve can do is create bank reserves and hope it somehow influences bank behavior, because commercial banks are the ones who own these bank reserves.Unless commercial banks do something in response to whatever operation the Federal Reserve is undertaking, then it doesn't matter, the Federal Reserve
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