Federal Reserve models that use reserve requirements based on a percentage of GDP are overly simplistic and reflect a lack of understanding of financial complexity, but they are used because they are the only concepts the Fed can explain to the public and Congress.
factualpending
Speaker
Chris WhelanEvidence Quote
“it makes no sense at all but that's what they do because it's the only thing they can talk about at the press conference that people would understand”
Source
The Fed’s Ticking Time Bomb Is About To Explode | Joseph Wang & Chris Whalen— Forward GuidanceCreated: 8/11/2026, 1:23:06 AM
My Notes
Loading notes...