Monetary Policy & Federal Reserve Critique - The speaker advocates for monetary regime change at the Federal Reserve, suggesting deeper problems beyond short-term interest rate adjustments [3][4] - The speaker criticizes the Federal Reserve's models, constructs, and meeting choreography, calling for a strategic approach aligned with government economic and national security goals [4] - The speaker questions the Federal Reserve's independence, arguing it shields the Fed from legitimate criticism and Congressional oversight, violating democratic governance norms [7][8] - The Federal Reserve has been operating at a loss since September 2022 and holds over 900 billion USD in unrealized capital losses [9] Interest on Reserves (IOR) & Banking System - The Federal Reserve is paying hundreds of billions of USD to commercial banks to keep money in cash reserve accounts instead of lending or investing [9] - Paying interest on reserves (IOR) originated as an emergency measure in October 2008 during the global financial meltdown [12] - The speaker suggests eliminating the Federal Reserve's use of paying interest on reserves and shrinking its portfolio to raise interest rates [17] Quantitative Easing (QE) & Inflation - Quantitative easing (QE) involved the Federal Reserve purchasing government assets to lower interest rates to zero [13][14] - The Federal Reserve credited banks' cash balance accounts for millions of USD with a keystroke when purchasing Treasury securities, creating base money [14][15] - The speaker argues that paying banks to keep money at the Federal Reserve is more lucrative than making loans, hindering financial intermediation [16]