The article discusses the often-overlooked importance of monetary policy in democratic politics, emphasizing that interest rates influence critical aspects of society, such as housing, business growth, and community prosperity. It notes that political figures like Donald Trump highlight this intersection, challenging the notion that monetary policy is objective or apolitical. The text reflects on historical changes in monetary policy, particularly during economic crises that revealed its impact on wealth distribution and social equity. Ultimately, it argues for a renewed understanding of how interest rates are intrinsically tied to democracy and individual lives.
"Monetary policy is fundamentally political and tells us a lot about democracy. Interest rates shape everything from housing markets to business expansions."
"Period of low and stable prices dominated by central bank independence gave way to crises that revealed monetary policy’s inherent political nature."
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