Economists and pundits mistakenly call the Federal Reserve System's security holdings a portfolio. It is anything but.
Original Article: "The Fed’s Portfolio Is Nonexistent: The Fed Does Not Invest. It Destroys Investments"
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William L. Anderson is a Fellow of the Mises Institute and professor of economics at Frostburg State University. He earned his MA in economics from Clemson University and his PhD in economics from Auburn University, where he was a Mises Research Fellow.
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