Defending the Undefendable: Is the Federal Reserve the Good Guy Right Now?

What Then Must We Do?

Tom Luongo likes to pull on threads. He keeps pulling no matter where they take him, even they lead places that challenge some of the most deeply held convictions of libertarians.
In this episode, we talk (again) about Tom's view that – in this particular moment in time – we might want to be cheering for the US Federal Reserve, because it could be that it is fighting a beast that is much bigger, more dangerous, and has the potential to centralize power over our lives in ways that even the Fed cannot. Tom gives us some indicators to watch for in the coming months, that he says will support his thesis.
Is Tom right? Listen to the episode and decide for yourself.
You can find Tom here, where he hosts a podcast and produces an intensely well-researched and thought out newsletter covering financial and geopolitical issues of the day. He is also active on Twitter/X.
My previous episode with Tom Luongo is here. And I appeared on Tom's podcast a while ago, here.