The Federal Reserve is much more powerful than it was 20 years ago, which has prompted calls for a reset in how it answers to Congress and the public.
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The court’s narrow opinion backing Fed governor Lisa Cook against Trump referenced the Fed’s vital role in steering the US economy.
The Fed chair who served under five US presidents was more practical and less ideological than his detractors claimed.
Unless Congress acts, 1 in 5 Americans who receive Social Security could see an across-the-board benefit cut of roughly 22% starting in 2032.
