【Is a Storm Coming? The Federal Reserve's 'Self-Selection Referee' System Sparks Controversy Again, How Long Can the Veil of Financial Supervision Last?】
The Federal Reserve recently appointed Michael Horowitz as the new Inspector General, succeeding Mark Bialek, who retired in April this year. But what truly alerted the market is — this Inspector General was personally selected by the Fed Chair!
In other words: Who will oversee you? You choose!
This is extremely rare in government regulatory systems and is at the core of the external skepticism regarding the Fed's 'lack of true independence'.
Background Scan:
▪️ Horowitz was formerly the Inspector General of the Department of Justice, with a strong resume;
▪️ The oversight scope is now expanded to the Consumer Financial Protection Bureau (CFPB);
▪️ However, due to the **'Chair appoints the Inspector General'** system arrangement, it is deemed difficult to impose true constraints on the Fed;
▪️ Especially after several senior officials of the Fed were implicated in insider trading scandals, public doubts about the 'independence' of this position have surged.
Opposition voices are rising!
Several Senators have proposed legislation: requiring the Inspector General to be nominated by the President and confirmed by the Senate, fundamentally changing the 'self-selected referee' game rules.
This is not just a procedural issue, but a crisis of trust!
As trust in the financial system is gradually eroded, the crypto world is rising — decentralization, openness and transparency, and code execution are the true underlying logic of future finance.
Don't wait for the next storm to awaken; 'holding the keys in your own hands' is the beginning of freedom.
