Is America’s Central Bank an ‘SDI’ — a Systemically Dangerous Institution?

The Fed as an institution, along with its policies, seems to be a main source of the economic instability America faces.

AP/Manuel Balce Ceneta
The Federal Reserve chairman, Jerome Powell, at the Capitol. AP/Manuel Balce Ceneta

Some people say, I have heard, that the Federal Reserve has a credibility problem. The agency missed the biggest inflation spike since the 1980s, was slow to start rolling back pandemic policies and failed to spot the risks that some banks, such as Silicon Valley Bank, were facing. 

Have an account? Log In

To continue reading, please select:

Limited Access

Enter your email to read for FREE

Get 1 FREE article

Continue with
or
Unlimited Access

Join the Sun for a PENNY A DAY

$0.01/day for 60 days

Cancel anytime

100% ad free experience

Unlimited article and commenting access

Full annual dues ($120) billed after 60 days

By continuing you agree to our
Privacy Policy and Terms of Service.
Advertisement
The New York Sun

© 2025 The New York Sun Company, LLC. All rights reserved.

Use of this site constitutes acceptance of our Terms of Use and Privacy Policy. The material on this site is protected by copyright law and may not be reproduced, distributed, transmitted, cached or otherwise used.

The New York Sun

Sign in or  Create a free account

or
By continuing you agree to our Privacy Policy and Terms of Use