I was just referencing the fact that we have no democratic say over the fed rate in the US. Not trying to say democracy is bad, just that we don't really have it with respect to interest rate policy.
FED chairman is elected by POTUS and confirmed by Senate. With 4y term. That is your say - it is indirect but most (all?) things in modern democracies are indirect. Obviously on top of that there are more soft influences - such as public opinion.
“Elected by POTUS”… You mean appointed... Appointments and public opinion could affect rates in non-democratic countries as well. Anyway we’re on the same side. I just want a more directly democratic influence over the rate
