Correct, and in the US Congress can alter the mandate.
They have avoided it, specifically to avoid politicizing control of the money supply, and to keep private companies independent. It is part of the entire purpose of the Federal Reserve and its own independence.
The pandemic stimulus laws have been the most climatic changes to the Federal Reserve directly in the 100 years of its existence. The unshackling and new mandate has had predictable results, some parts of Congress are aiming to re-shackle it and create more safeguards against the legislatures accessing it, but now it is politicized.
The ability for the US to pay for anything is now completely tied to the market tolerance of more dollars on the market. The actual budget discussions have just been a sideshow to distract from this obvious source of funding.
They have avoided it, specifically to avoid politicizing control of the money supply, and to keep private companies independent. It is part of the entire purpose of the Federal Reserve and its own independence.
The pandemic stimulus laws have been the most climatic changes to the Federal Reserve directly in the 100 years of its existence. The unshackling and new mandate has had predictable results, some parts of Congress are aiming to re-shackle it and create more safeguards against the legislatures accessing it, but now it is politicized.
The ability for the US to pay for anything is now completely tied to the market tolerance of more dollars on the market. The actual budget discussions have just been a sideshow to distract from this obvious source of funding.